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Mexico: 2015 Article IV Consultation—Staff Report

Summary: Mexico has navigated successfully a complex external environment, characterized by falling commodity prices, a sharp appreciation of the U.S. dollar, and heightened volatility in international financial markets. The economy is projected to grow at 2¼ percent in 2015, with inflation close to the target. Looking ahead, growth should be supported by strengthening external demand and by the implementation of the structural reforms. The main risks are negative surprises to U.S. growth, a renewed surge in capital flow volatility, or a further decline in domestic oil production.

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