The organization is forecasting a somewhat better 4.2% for 2016
A preliminary economic outlook released today by the Organization for Economic Cooperation and Development (OECD) is more optimistic about Mexican growth than the Mexican government by two percentage points.
OECD secretary general José Angel Gurría estimated today that structural reforms will begin to show positive results next year in terms of Gross Domestic Product (GDP), which will grow by 3.9%. The government’s own preliminary forecast is for 3.7%, down rather a lot from its previous expectations for next year of 4.7%.
But Gurría said 2016 is when GDP growth will really kick in. His forecast is for 4.2%.
The Mexican government’s forecast for this year is 2.7%.
The OECD expects Mexico’s economy to grow more than the average of G-20 countries, which represent 90% of world GDP. Improvement in the Mexico economy will be aided by growth worldwide and in the United States, said Gurría.
The OECD chief, an economist and diplomat, has some background knowledge when it comes to Mexico. He was Finance Secretary from 1998 to 2000 under President Ernesto Zedillo, and negotiated the North American Free Trade Agreement.
He is currently serving his second five-year term as head of the 34-member OECD.