economy and politics

AMLO to banks: “continue to obtain legitimate and reasonable profits”

AMLO to banks: "continue to obtain legitimate and reasonable profits"

In a 10-minute message, the shortest among the participants in the event, the president explained that there are several indicators that show the good health of the national economy, such as GDP growth last year, which was 3.1% and exceeded that observed in the United States and China.

He stressed that the result was achieved without the contracting of public debt, with higher collection, without raising taxes, with the attraction of foreign investment and with an emphasis on serving social causes.

Before the financial union and bank representatives, López Obrador boasted, in addition to bank profits, nine other economic indicators that make Mexico see itself in a solid position.

In the first place, he mentioned that there are 21.6 million workers attached to social security, that is, formal workers, who on average have an income of 16,000 pesos per month, both historical data.

He highlighted last year’s 2.9% unemployment rate, which is the lowest since records have been kept.

He commented that so far in his administration, the minimum wage has increased 90% in real terms, which has not happened in four decades.

The president said that they are dispersing 600,000 million pesos in social programs, which has benefited 25 million of the 35 million households in the country.

He highlighted the capture of remittances, which last year were greater than 58,000 million dollars and which are expected to exceed 60,000 million in 2023.

“These resources reach 10 million families, reactivate the economy from below in all regions of the country.”

He announced that this year they will allocate more than one trillion pesos for infrastructure works, a record amount in public investment.

He pointed out that the peso is the currency that has appreciated the most in relation to the dollar in the world, which has not happened in at least 50 years. “There has been no devaluation, the peso has appreciated.”

In addition to the fact that Banco de México has reserves for more than 200 billion dollars to face any contingency.

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