“The economy is going to fall, but the recovery will be quick for the benefit of those in most need”.
Mexico City (Times Media Mexico) – Andres Manuel Lopez Obrador announced a “heterodox” 10-point plan in three phases, to serve the most impoverished sectors, as well as help the upper-middle class and “giant corporations” with what he calls a “moral economy”.
In a video transmitted by social networks, the president acknowledged that due to the covid-19 Mexico’s economy will fall, but assured that the situation in the country would improve quickly.
“Yes, the economy is going to fall, but we are going to improve the economic situation quickly. There is going to be a rapid return to economic normality, above all, to well-being, which is what is most important to us, that we are all happy,” AMLO said.
He explained that in this rescue scheme, the first thing would be “to protect 70 percent of Mexican households, 70 percent of Mexican families from the bottom up”.
The second, he added, will be to inject resources to strengthen the general economy, that is, “to allocate many resources to the people to increase domestic consumption. That the people have money and can buy goods, especially the basics, the indispensable, food, clothing, whatever is most needed”.
He specified that this transfer would take place between May and August. “We already started next Monday to disperse the credits. We will give three million pesos to the word to revive the economy, and we will also create two million new jobs,” he reiterated.
Mexico’s leftist president added that 30 percent of the population, that is, the upper-middle class and large corporations, will also have their help since they will offer “peace of mind and well-being”.
He assured that with the trade treaty between Mexico, the United States, and Canada, which will take effect on July 1, there will be more investment, jobs, and economic growth will be triggered.
The Plan
1. No corruption.
2. Lower government spending.
3. Guaranteed freedom.
4. The rule of law.
5. Peace with justice.
6. No tax increases.
7. No fuel increases.
8. Lower interest rates
9. More investment in public work and infraestructure.
10. Make the most of the USMCA (T-MEC in Spanish).
Sounds good doesn’t it? However, as we say in Mexico: “The road to hell is paved with good intentions”.
We shall see.
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