Published On: Fri, Jul 24th, 2015

Finance Secretary says poverty figures have improved in the first half of 2015

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The strategy to combat poverty and formalize the economy is working as a result of structural reforms, Treasury and Public Finance Secretary Luis Videgaray Caso said on Wednesday July 23rd.

The numbers have put into perspective the importance of the implementation of the structural reforms,” said the secretary after presenting the report on poverty by National Council for Social Development Evaluation (Coneval).

The numbers in the report date back to August 2014, but data from the first few months of 2015 also show improvement, Videgaray Caso said.

The Coneval numbers show the National Crusade Against Hunger is working where it needs to work, in the places that require it most,” he said.

The secretary spoke after the signing of a mortgage agreement.

Income levels for the poorest 10 percent of the population rose by 2.1 percent in 2014, Coneval said in the report. The evaluation council also demonstrated a decrease in the complications Mexicans encounter while trying to access social security, he said.

It was reported that 61 percent of the population lacked social security services,” Videgaray said. “That number went down to 58 percent. That is to say that the strategies are not only combating poverty, but also the formalization of the economy is working.”

Treasury and Public Finance Secretary Luis Videgaray Caso (Photo: El Universal)

Treasury and Public Finance Secretary Luis Videgaray Caso (Photo: El Universal)

The improved formality of the economy and the expansion of programs like “65 and more” for attention and care to seniors are clearly having favorable results in the fight against poverty, he said. Although the data outlined by the report come from August 2014, in the first few months of this year the numbers are looking even more promising, said Videgaray.

The report demonstrates how important it is to continue with the implementation of structural reforms, which contribute to ensuring that the country maintains low inflation rates, he said. The interest rate was recorded at 2.76 percent during the first two weeks of July, a lower than expected number, which benefits the family economy.



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