Home Business-newBusiness “Mexico is in the middle of a serious and delicate economic recession”: Ernesto Herrera Novelo

“Mexico is in the middle of a serious and delicate economic recession”: Ernesto Herrera Novelo

by Yucatan Times
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Ernesto Herrera Novelo declared that timely economic reactivation and infrastructure plans are necessary to generate jobs in the face of a serious national economic recession.

Mérida, Yucatán, (October 2, 2020).- The State Secretary for Economic Development (SEFOET), Ernesto Herrera, highlighted that given the serious and delicate economic recession in Mexico, both the Economic Reactivation Plan and the State Infrastructure Plan for Job creation and support for economic reactivation are extraordinary countercyclical measures implemented by the Government of Yucatán to create jobs and help hundreds of businesses, companies, and industries that have been affected by the slowdown in the national economy that began before the pandemic and that deepened with the health contingency.

Secretary Herrera also said that “fortunately we have already implemented these 2 plans and their results will be noticeable more strongly in the medium and long term as the works that are underway and those that begin in the coming weeks will progress, we will notice a greater dynamism as we move forward in coordination with the chambers and schools and, of course, with the collaboration of civil society, since the economic reopening is conditional on our hospital capacity not being saturated ”.

Regarding those who would like to see an accelerated recovery in their sales, he said that it is natural, but that they must take into account that the recession and the economic crisis that the country is going through makes consumers more cautious and that they mainly allocate their little income to what is most necessary such as medicines, medical expenses, transport and services such as water, electricity, and telephone, but you have to be patient and collaborate so that the reopening works for everyone, not just for a particular sector.

Secretary Ernesto Herrera highlighted that estimates by economic specialists and international financial organizations place between 10 and 12% the drop in Mexico’s Gross Domestic Product for 2020, which will reduce the capacity of consumers, strongly affecting micro, small and medium industries.

That is why he also pointed out that “in the face of this delicate situation, the State Government reiterates its broadest willingness to continue supporting them strongly as it has been up to today, with savings and budgetary reorientations, prioritizing health care and promoting economic recovery,” he concluded.

It should be remembered that with the aim of promoting the recovery of Yucatán through the creation of jobs that allow Yucatecan families to get ahead, the State Government launched the State Infrastructure Plan for the Creation of Jobs and Support to the Economic Reactivation, which contemplates for this year a state public investment of 3,340 million pesos, which translates into the carrying out of 378 public works and 15,947 actions of this type.

This plan adds to the economic reactivation of the state through projects in the areas of security, urbanization, education, housing, health, drinking water and sanitation, government buildings, environmental protection, public buildings, and sports facilities, all of them designed for the creation of jobs, improve the quality of life of the Yucatecans and strengthen the competitiveness of the state.

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