INEGI data indicates a 22.7% decrease in the Global Economic Activity Indicator (compared to the same period in 2019), as well as a total of 15.7 million unemployed Mexicans (Photo: López Obrador)

President Andrés Manuel López Obrador affirmed this Saturday during the conference from Oaxaca that Mexico’s economic recovery will begin in August, according to their forecasts, despite the negative figures released by the National Institute of Statistics and Geography (INEGI).

According to the President, the economic crisis caused by the coronavirus pandemic it has already hit rock bottom in the country and the process has to be like a “V”: that is, fall and get up.

This was explained by López Obrador after being questioned regarding INEGI data, which point out a decrease of 22.7% of the Global Economic Activity Indicator (compared to the same period of 2019), as well as a total of 15.7 million unemployed Mexicans.

The most difficult month, the president explained, was April, when 555,000 jobs were lost (Photo: EFE / Sáshenka Gutiérrez)
The most difficult month, the president explained, was April, when 555,000 jobs were lost (Photo: EFE / Sáshenka Gutiérrez)

During the visit to the rehabilitation of the Ing. Antonio Dovalí Jaime refinery in Salina Cruz, Oaxaca, the president declared that he wants “Close the month without loss of employment so that in August we begin the rehire of workers and begin the recovery”.

In June, in the context of the COVID-19 health crisis, 82,000 jobs were lost. Until this Friday, 20,000 lost jobs had been registered of the 20 million 500 thousand workers enrolled in the Mexican Institute of Social Security. He explained that the most difficult month was April, when 555,000 jobs were lost; 340,000 were lost in May.

So far in July there have been 27,000 job losses, although they already add two weeks without loss of daily employment. “I mean, workers are being rehired. So, this leads me to maintain that we have already reached the bottom and that we are already leaving, ”he said.

The previous figures refer to the formal economy, for which the president acknowledged that the economic crisis has affected, for the most part, the informal economy: More than half of the population in Mexico is subject to it.

We have to maintain the balance between the health of our people in the face of the pandemic, as we are doing, and at the same time recover the economic loss caused by this pandemic.

“With one hand, face the pandemic and with the other, boost economic activity”, he noted, adding that in both cases there has been “little” progress, but not as desired.

President Andrés Manuel López works during his visit to the Salina Cruz refinery in Oaxaca (Photo: López Obrador)
President Andrés Manuel López works during his visit to the Salina Cruz refinery in Oaxaca (Photo: López Obrador)

After the INEGI report, which reported that 93.2% of the companies that were affected by the COVID-19 pandemic did not receive any type of support, clarified that the Government of Mexico has delivered loans “like never before” to small companies that employ workers enrolled in Social Security, as well as loans to people dependent on the formal economy such as artisans, workshop owners, musicians, waiters, merchants, among others.

Exemplified with the status of Oaxaca, where loans of 25,000 pesos have been delivered to 3,679 companies with a value of 91 million pesos. For those who are not part of the formal economy, there are programmed 29,127 loans.

The president assured that there are consumption indicators that show that economic activity in Mexico it is getting better, as in the case of jet fuel and gasoline, whose records are “almost” in levels associated with normality.

In addition, he recalled that you have to wait for INEGI to disclose its decrease figures to be able to measure the dimension and know the position of the country in the concert of nations.

He clarified that the Government of Mexico has delivered loans “like never before”: to small companies that employ workers enrolled in Social Security, as well as loans to people dependent on the formal economy such as artisans, workshop owners, musicians, waiters, merchants, among others (Photo: AP Photo / Rebecca Blackwell)

López Obrador also pointed out that there are signs that the spread of COVID-19 among the population has decreased, in addition to the fact that no Mexican has been left without medical attention. He said that the problem was addressed in a timely manner and responsible.

I maintain that we are not going to be affected as much as our adversaries would like. That the strategy we are applying is helping us not to be greatly affected by the economic crisis precipitated by the pandemic. We will wait for the definitive data

During the tour of the supervision of the rehabilitation of the train, the president pointed out that one of the biggest problems is the irresponsibility of construction companies and corruption who has mastered these. Therefore, he asked companies to fulfill all their contracts in a timely manner and at the lowest cost.

“Because one of the problems that the government has had to suffer is the irresponsibility of construction companies and the corruption that has prevailed. Now there are other rules, bribes are no longer asked for, moches are no longer requested, it is he who wins the tender and the same, that is why companies are asked to do their duty, their responsibility, “he said.

This morning, the president also called on the ejidatarios to deliver land, as well as the authorities involved in the work to regularize the spaces required for the creation of the corredor transístmico.

It’s about a highway and rail corridor that will unite the Gulf of Mexico with the Pacific Ocean. It will serve as a means to extend the industrial zones of southern Veracruz and Tabasco towards the port of Salina Cruz, in Oaxaca, thus promoting the installation of new industrial parks.

López Obrador also pointed out that there are signs that the spread of COVID-19 among the population has decreased, in addition to the fact that no Mexican has been left without medical attention (Photo: EFE / Sáshenka Gutiérrez)
López Obrador also pointed out that there are signs that the spread of COVID-19 among the population has decreased, in addition to the fact that no Mexican has been left without medical attention (Photo: EFE / Sáshenka Gutiérrez)

The corridor of at least 300 kilometers, will connect one ocean to another by rail modern container freight, which at the same time will be a passenger railway.

When leading a conference from the state of Oaxaca, and in order to supervise the works of the corridor, the Mexican president announced the installation of at least 10 industrial parks at corredor transístmico.

“Polygons of 500,000 hectares for each industrial park, because having the land we are going to announce a decree with the purpose of reducing the payment of taxes in this corridor ”, he explained.

For this reason, the Mexican president asked the owners of the ejidos to which cooperate, in order to dispose of those lands located on the Isthmus of Tehuantepec and raised the possibility of reaching a lease agreement.

“Do not buy from them, help them and be partners, that is, part of the project.”

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