Appendix A. Macroeconomic Projections 1995-1996
Macroeconomic Projections, 1996-1997
1996 | 1997 | |
| Gross Domestic Product | ||
| Real growth | 3.7 | 4.0 |
| Nominal GDP (billions of pesos) | 2,492.6 | 3,096.3 |
| GDP deflactor | 34.1 | 19.4 |
| Inflation | ||
| Dec./Dec. | 26.20 | 15.0 |
| Average exchange rate 1/ | 7.62 | 8.53 |
| Minimum Wage | ||
| Annual nominal variation | ||
| December | 10.0 | 17.0 |
| April | 12.0 | - |
| Oil Price 2/ | ||
| Dollars per barrel | 18.05 | 14.50 |
| Public balance | ||
| As percentage of GDP | 0.0 | -0.5 |
| Current Account | ||
| Millions of dollars | -1,014.0 | -4,300.0 |
| As percentage of GDP | -0.31 | -1.18 |
1/ Given that there is a free-floating exchange rate regime, these numbers cannot be depicted as exchange rate projections. However, for the purpose of calculating some items of the budgetary data, these were the references. In the Economic Policy Guidelines for 1996, an exchange rate of 7.70 was used, while as of november 5, 1996 the average exchange rate was 7.55 pesos per dollar.
2/ A price of 13.25 dollars per barrel was assumed for the mexican crude oil export mix in the Budget for 1996.