MEXICO CITY – Even though the volatility in the foreign market will continue in 2016, Mexico has great macroeconomic strength and will receive an additional 10 percent in Direct Foreign Investments (IED), said José María Zas, president of the American Chamber Mexico.
He said that while the majority of the economy in the world is decelerating, Mexico has the foundation to be different from the rest of the countries that are also threatened by gas prices.
“The volatility characteristic in this moment and this time is going to continue. The world economy isn’t growing as it should. China is slowing down, the majority of the economies are slowing down. The volatility of the price of gas makes a great state of volatility, but I think that Mexico has great strength, a macroeconomic strength, in all of its numbers for public spending cutbacks. Tax collection allows the country to have a good state in 2016, in comparison with the economy of the rest of the world, and this is going to continue. I have a lot of optimism for the Mexican economy,” said Zas.
Mexico will continue to attract investments and its economy is recovering and returning to normal, according to Zas.
In regard to the provisions for the upcoming year, Zas said that there will be an inflation of 3 percent, salaries will increase by 4 or 5 percent and the dollar will be equal to 16.5 pesos.
He said that in his companies, high quality jobs are created and the best way to continue this is to keep working on formalizing the economy through the Rule of Law, improve the level of sales, which will drive the middle class. This will allow more money to flow into the internal market, making a better quality of life for the population.
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