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Local News - Outsourcing Deal Reached

MEXICO

Yesterday, President AMLO said in tweet that union and business leaders reached an "important" deal over outsourcing and profit sharing benefits, attempting to eliminate tax loopholes. The agreement forbids outsourcing of personnel and regulates outsourcing of specialized services different from main economic activity of hiring company.

  • Business lobby CCE said in a separate statement that profit sharing will be limited to avoid "possible distortions in capital-intensive companies."
  • Agreement will be submitted to Mexico's lower house of Congress for its approval.

Separately, the central bank published their monthly survey of economists on website:

  • 2021 year-end inflation raised to 4.17% from 3.88%
  • 2022 year-end inflation raised to 3.62% from 3.54%
  • 2021 GDP raised to 4.53% from 3.89%
  • 2022 GDP raised to 2.68% from 2.65%
  • 2021 year-end exchange rate raised to 20.66 from 20.32 MXN/USD
  • 2022 year-end exchange rate raised to 21.06 from 20.70 MXN/USD

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