IMEF revises down Mexico’s economic growth forecast for ’19

19th June, 2019 10:53:24 printer

MEXICO CITY: The Mexican Institute of Finance Executives (IMEF) revised down its forecast for the country's 2019 economic growth from 1.4 percent to 1.2 percent amidst fears that trade tensions could lead to a global recession.

In a press release, the IMEF said that the Mexican economy faces a "complex and highly uncertain" scenario, which is why growth prospects were revised downwards, reports Xinhua.

"The U.S. threat of imposing tariffs on all Mexican imports, leaving aside the established legal order, represents a blow to world trade, which increases uncertainty about the economic outlook," the IMEF said.