Mexican president sees economy growing 5% in 2021

Mexican President Andres Manuel Lopez Obrador said on Monday he expects the economy to grow 5% this year as the country recovers from the heavy hit it suffered from the coronavirus crisis.

Mexican President Andres Manuel Lopez Obrador said on Monday he expects the economy to grow 5% this year as the country recovers from the heavy hit it suffered from the coronavirus crisis. In 2020, gross domestic product in Latin America's second-biggest economy shrank by 8.5% according to a preliminary estimate, its sharpest contraction since the 1930s.

"I think we're going to grow 5% this year," Lopez Obrador told a regular news conference, in his first public appearance since testing positive for COVID-19 two weeks ago. The president's forecast on Mexico's economic prospects is more optimistic than most private sector analysts, as it has tended to be since he took office in December 2018.