The war between Russia and Ukraine could affect up to 30% of Mexico’s GDP, derived from the scarcity of raw materials, increased costs, volatility and restrictions on logistics routes, warned José Luis de la Cruz, director of the Institute for Development and Economic Growth (IDIC).
He specified that the automotive, electrical, electronic sectors will be the main affected by the limitations in foreign trade, so if Mexico does not apply industrial policy measures, it will not have mechanisms to face the tightening of the monetary policy of the United States. and the Bank of Mexico.
The expected damage from the war in Russia and Ukraine will be reflected in the rise in the price of gasoline, diesel, gas, electricity, chemicals and oil derivatives; in addition to the international financial uncertainty. De la Cruz said that the weakness of the domestic market is a factor to consider.