Banorte remains optimistic about Mexico’s economy

Despite the fact that the US economy may go into a slowdown process next year, affecting activity in Mexico, Grupo Financiero Banorte remains optimistic about the dynamic economy of the country.

at the conference, Marcos Ramirez Miguel, CEO of Banorte, He stressed that the Corporation is optimistic about the future economic situation and this can be seen in the GDP growth forecast.

“We are the ones with the highest GDP forecast, and we haven’t changed it… We are optimistic. If we see that the US could go into a slowdown and next year it will be a little complicated, because we absorb the Fed rate hike and that is the medicine,” he said.

However, he explained There are clear signs of revitalization in the countryWe feel it and see Mexico that has an appetite for credit, and we are there to accompany Mexican families and businesses.”

in this meaning, Alejandro Padilla, Chief Economist at BanorteHe pointed out that the bank estimates that this year’s gross domestic product will advance by 2.1 percent.

“We have seen very good dynamics of the economy We believe there will be two growth drivers (for the rest of the year): the export sector and a healthy private consumption performance driven by remittances and greater activity.”

While he explained that the US economy may see two quarters of decline in activity next year, it will grow at a rate of 1.3 percent, and therefore, Mexico’s GDP will expand at the 1% level.

In turn, select it The bank did not see its customers suffer from the effects of inflation, Since users with a credit card, for example, have not stopped paying.

“We don’t see any abnormal numbers in credit card usage and in interest- and non-interest-month usage, we’re seeing behaviors in total customers that are very similar to what we had a year ago, and we’re in great contact with our customers to make sure that if they need help, we’re on their side.” The economist added.

MPA