Experts predict that Mexico will need 40 years to achieve more “prosperity and equality”

It will take at least four decades Mexico to achieve a economic situation further “prosperous and equal”, since only in 2023 did it perform below expectations, with just over 2%, specialists warned this Friday.

“We are going to need 40 years to reach the level required, which would make Mexico more prosperous and more equal“, expressed Horacio Arredondo, dean of EGADE Business School during the forum “Economic and Political Panorama of Mexico 2024”, organized by the educational institution Tecnológico de Monterrey in Mexico City.

The expert also warned that the economic task that awaits Mexico This year is not easy, especially due to the electoral context in the country and the elections in USA.

“The year 2023 looked less turbulent than the previous ones, and it was not like that; Little of what was said has been fulfilled. This year will be quite far from tranquility; It is estimated that disruption and slowdown will be issues, especially during the election year“, he explained.

At the event, various specialists agreed that the mexican economy It did not grow as projected last year and it is expected that by 2024 it will not exceed 2.2%, due to the economic slowdown, the elections and the increase in illicit economic activities.

Everardo Elizondo, former deputy governor of Bank of Mexicoexplained that the economic slowdown, the fragility of the State, the inequality of income and wealth, as well as the extent of illicit economic activity They will influence the country’s economic growth to be lower than last year.

“The economy By 2024 it will not change from what it is today; This is due to the impact of the Covid-19, the lack of economic acceleration and the lack of expectations; This produces a stagnation of the GDP per capita despite population growth“, he claimed.

Jorge Castilla, Managing Director of Accenture Mexico, assured that in the near future the arrival of profound manufacturing 4.0 is expected, which will be related to supply chains, which will use the cloud and advanced manufacturing models. Artificial Intelligence (AI) to be able to balance those chains.

“The talent and education we have in Mexico are the most important factors; Only 2% of the economically active population has knowledge of computers and technology. This is 1,100,000 people, and this country requires much more than that; there is a great opportunity if we are able to achieve it”Castilla concluded.

He National Institute of Statistics and Geography (Inegi) will publish on January 30 its first timely estimate of the growth of the gross domestic product (GDP) of Mexicowhich until the third quarter of 2023 accumulated an annual increase of 3.4%, after growing 3.9% in 2022.

President Andrés Manuel López Obrador forecast last Friday a growth of 3.5% for both 2023 and 2024.