Mexico's Treasury lowers GDP growth forecast to 2 to 2.8 percent as peso, oil prices slump
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The Mexican Treasury Department is lowering its economic growth forecast for 2015 to between 2 percent and 2.8 percent.
The new figure is down from a previous projection of 2.2 percent to 3.2 percent GDP growth.
Thursday's adjustment comes as the Mexican peso is at a historic low against the U.S. currency, closing at 16.52 per dollar the previous day.
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Analysts attribute the slide to an expected interest rate hike in the United States and lower prices for oil, a main driver of the Mexican economy.
Mexico's central bank also recently lowered its own 2015 economic growth forecast, which is currently 1.7 percent to 2.5 percent.