Stock Groups

Mexico must enact reform to boost productivity, says World Bank -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – The Mexico Central Bank logo (Banco de Mexico), can be seen in the building of its Mexico City headquarters, Mexico City on February 28, 2019. REUTERS/Daniel Becerril//File Photo

MEXICO CITY (Reuters), Mexico must implement a set of reforms that will boost its productivity, according to the World Bank in a Wednesday release.

According to the report, the COVID-19 outbreak had made it more urgent than ever for productivity growth.

This financial institution, which aims to eradicate poverty globally, stated that Mexico doesn’t have the capital necessary to fuel economic growth.

Jonathan Heath from the central bank also stated in February that the country was lacking a growth engine and private investment to boost the country’s gross domestic product.

According to the World Bank, Mexico must end market concentration. It stated that large companies have a lot of economic power in Mexico but they don’t grow fast enough and do not create enough jobs.

The report stated that Mexico would have a 9% greater productivity if it had followed the recovery of the United States from 2008’s financial crisis.

Gabriel Yorio (Deputy Finance Minister of Mexico) stated that Russia’s recent invasion in Ukraine will likely prolong the impact on global value chains caused initially by the COVID-19 pandemic.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]