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The International Monetary Fund (IMF) and the Mexico unit of Spanish bank BBVA expressed concern this week about the impact of energy policy on Mexico’s economic prospects.

In the latest revision of its World Economic Outlook (WEO), the IMF lowered its 2019 and 2020 Mexico growth forecasts, citing "the incoming administration’s cancellation of a planned airport for the capital and backtracking on energy and education reforms."

President Andrés Manuel López Obrador, who took office last December, has long criticized Mexico’s 2013 constitutional energy reform, which liberalized the formerly state-dominated energy sector.

The IMF is now predicting growth of 1.6% in 2019 and 1.9% in 2020, down from January forecasts of 2.1% and 2.2%, respectively.

The predictions for both years were down by nearly a full percentage point from last October, researchers said, explaining that, the changes, "in part, reflect shifts in perceptions about policy direction" in the country.

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