Bank of Mexico cuts growth outlook on virus fears

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The Bank of Mexico has revised its growth forecast for 2020 downwards, citing uncertainty around the spread of the coronavirus.

Mexico’s economy contracted by 0.1% in 2019, the first time in a decade.

In its quarterly report, the central bank lowered its GDP growth outlook for this year to between 0.5% and 1.5%. In its previous assessment, it forecast growth of between 0.8% and 1.8% of GDP. It expects a slight recovery in 2021, forecasting growth of between 1.1% and 2.1%.

In a statement

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