AMLO announced plan of “economic recovery” this 5th of April

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Mexico.- The president of Mexico, Andrés Manuel López Obradorrevealed this Monday that it is preparing a plan of “reviving the economy” before the crisis COVID-19 that will be released on Sunday the 5th of April, in the framework of its quarterly report.

“I’m going to give you to know all about the plan. So what has that to do with health. (…) And the plan of reviving the economy. Day 5 (April),” said the governor in his conference in the morning.

He recalled some points already known, for example, that delivered “a million credits for small business”half the formal economy and the other half to the informal, though he gave no figure as to the amount of these loans.

López Obrador insisted that from their Government, “are not waiting” to take action and informed that since they decided to lower the price of the fuels, because “if petrol goes up, climbs up everything.”

We ask him also to the gasolineros help us, you are not left with the profit and the utility, which must reach out to people,” said the president.

As the highest representative of the country, during his tour this weekend by several of the northern states of Mexico, already saw low prices in gasoline.

Also, López Obrador said that the intention of the Executive is to “maintain and strengthen the programs of well-being”, by which he reminded that they are advance the payment of two bimestres of aid to older adults.

For the moment, the federal Executive has advance already around 30,000 million pesos (about 1.240 billion) of the 42,000 million pesos (about 1.730 millions of dollars) that will cost the full subscription of the two bimestres, explained the representative.

Lopez Obrador emphasized the difficulties that they are having to make these payments to the elderly who do not have bank accounts, but he predicted that the next 10 of April all beneficiaries will have received this help.

The entrepreneurs of Mexico, through the two main employers of the country, the Business Coordinating Council (CCE) and the Employers Confederation of the Mexican Republic (Coparmex), over ten days ago to urge the Executive to take measures of great depth to cope with this economic crisis.

According to the Organization for Economic Cooperation and Development (OECD), a confinement in Mexico would reduce by 29 % the economic output of the country.
Some experts have predicted falls of the Gross Domestic Product (GDP) of Mexico is greater than 5% by 2020 as a result of the pandemic of the new coronavirus.

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