Uncertainty over US-Mexico trade relations will temper economic activity, as well as asset and loan growth in Mexico over the next couple of years. Despite a short-term deceleration, we maintain a favourable growth outlook on the sector over out 10-year forecast period as structural reforms will drive expansion.
The Mexican government's commitment to fiscal consolidation will drive a slight narrowing of the fiscal deficit this year and help to arrest the rise in public sector debt. The latter will remain the administration's major focus, having driven a deterioration in Mexico's sovereign credit rating outlooks in 2016.
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Thanks, BMI Research