Mexico could pass Brazil as top LatAm economy in 10 years-Nomura

Reuters, 7/9/12

Optimism about the chance of change in Mexico contrasted with reform fatigue in Brazil, where the government has wheeled out successive measures to boost local industry and protect exporters from a strong exchange rate.

The International Monetary Fund estimates Brazil has an economy twice the size of Mexico’s at $2.4 trillion, but Nomura said the gap could disappear by 2022 if Mexico grows at the top end of the bank’s forecast range and Brazil at the low end.

Over the next decade, Nomura forecasts average growth of 2.75 percent to 3.25 percent in Brazil and 4.25 percent to 4.75 percent in Mexico. If both countries grow at the low or high end of the range, Mexico would overtake Brazil in 2028-29.

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