The OECD revised its forecasts for Mexico's economy, downgrading expected GDP growth to 2.2% in 2016 and 2.3% in 2017 due to economic uncertainty from Trump's election and falling oil prices. While higher US demand provides support, protectionist policies could harm exports and imports. The OECD praised Mexico's resilience but recommended further reforms to encourage spending, labor market growth, and fighting corruption and inequality. In Chile, the government announced a 10% increase to the basic pension rate starting in January 2017 in response to more pensioners living longer. In Paraguay, the minimum wage was raised by 7.7% to help workers as wages have not kept up with inflation.