Tag: mexican economy

SHCP forecasts growth of 6.5 in 2021
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SHCP forecasts growth of 6.5 in 2021

The Secretariat of Finance and Public Credit predicted that the Mexican economy will grow 6.5 percent this year according to its models and above the 5 percent predicted by the Organization for Economic Cooperation and Development (OECD).In a panel convened by the OECD, stressed that the new estimate of the Ministry of Finance and Public Credit —Above the 5.3 percent previously released by the agency— is based on the fact that during the last two months the recovery of economic activity has gone better than expected, this situation will be credited with the reopening of schools and a vaccination process that will be considers “crucial”."Our models indicate that Mexico will grow around 6.5% and the recovery of the pre-pandemic levels will be earlier than expected", Gabriel Yorio said on Twi...
Women have lost more jobs due to the pandemic in Mexico
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Women have lost more jobs due to the pandemic in Mexico

MEXICO CITY.- The covid-19 pandemic has deepened inequality in Mexico, causing job losses, increasing gender gaps, the vulnerability of the marginalized population and access to technology, notes the report The vaccine against inequality.Made by Fundar, Oxfam and the Center for Economic and Budgetary Research (CIEP), This report indicates that, since the beginning of the pandemic, 34% of working women have lost their jobs, compared to 26% of men, which reveals a greater vulnerability of women.And in terms of health, the report indicates that, during 2020, the budget for that sector was reduced by almost 5 billion pesos, despite the fact that attention to the pandemic made it necessary to increase the budget by 0.94 of GDP.In addition, 35 thousand 153 million pesos will be spent to buy vacc...
Two out of every 3 employees in Mexico earn 283 pesos a day or less
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Two out of every 3 employees in Mexico earn 283 pesos a day or less

For women it is worseIf we go back 10 years (first quarter of 2011), the employed who earned more than five minimum wages represented 8.54 percent; while for 2021 they are only 2.2 percent, four times less than a decade ago.“The increase in the labor poverty index, to 40.7 percent, occurs in a context where there are more people who earn two or less minimum wages, while fewer and fewer receive five or more minimum wages. In this context, the most affected are women ”, affirms Jesús Rubio.In the first three months of the year, 58.3 percent of men in Mexico earned two or less than one minimum wage; but for women it is worse: 67.6 percent.The workers who earn five salaries represent 1.70 percent, 10 years ago they were 6.55; while in men it is 2.54, since in 2011 it was 9.72 percent.A str...
CRE terminates 69 contracts to sell oil products
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CRE terminates 69 contracts to sell oil products

The Energy regulatory commission (CRE) terminated another 69 licenses for the sale of oil and gas products for not having executed commercial operations within a period of 365 calendar days.In the evening edition of the Official Gazette of the Federation (DOF) the agency reported the expiration of agreements A / 014/2021 and A / 013/2021, with which 43 permits for the commercialization of petroleum products and 26 for liquefied gas from Petroleum.So far the CRE has achieved the revocation of 208 licenses of this type, adding these 69 to the 139 that ended just last Friday."This Agreement can only be challenged through an indirect amparo trial in terms of the provisions of article 27 of the Law of Coordinated Regulatory Bodies in Energy Matters", determined the CRE. !function(f,b,e,v,n,t,s)...
Peso falls after AMLO’s announcement about Díaz de León
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Peso falls after AMLO’s announcement about Díaz de León

Mexico City. The peso depreciated nine cents against the dollar between the start of the day and noon, after the president Andrés Manuel López Obrador announced this morning that it will not propose the renewal of the mandate of Alejandro Diaz de Leon at the head of the governing board of Bank of Mexico.The quotation for interbank operations, the most representative of the foreign exchange market, stands at 19.97 pesos per dollar, nine cents above the previous closing of 19.88 units, according to information from Banco de México. !function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTag...
AMLO presumes that there has been no devaluation, ‘even the peso has appreciated’
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AMLO presumes that there has been no devaluation, ‘even the peso has appreciated’

<!--[if IE 9]><![endif]--> <!--[if IE 9]><![endif]--> <!-- Photo: Special The president of Mexico, Andrés Manuel López Obrador, boasted the appreciation of the Mexican currency during his administration, "Not only has there been no devaluation, but the peso has appreciated." However, The factors that have strengthened the currency have been more of an external nature, such as the strength of the United States' trade with Mexico, which depends more on the growth of that country than on what the local authority can achieve.. It may interest you "Banco de México did not give us remnants when there were profits, but it is not a claim," accuses AMLO...
They publish reform that returns monopoly to Pemex in hydrocarbons
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They publish reform that returns monopoly to Pemex in hydrocarbons

The Ministry of Energy (Sener) published this Wednesday in the Official Journal of the Federation (DOF) the reform to the Thirteenth Transitory Article of the Hydrocarbons Law, which eliminates the so-called “even floor” in the energy sector.The change to this article implies the elimination of asymmetric regulation, which is the set of rules that seek to create a level playing field between private companies and Petróleos Mexicanos (Pemex) in the sale of fuels."The power granted to the Energy Regulatory Commission to subject to the principles of asymmetric regulation the first-hand sales of Hydrocarbons, Petroleum Products or Petrochemicals, as well as the commercialization carried out by persons controlled by Petróleos Mexicanos or its subsidiary organizations, is rendered ineffective", ...
Infonavit will give discounts on monthly payments to those affected by COVID-19
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Infonavit will give discounts on monthly payments to those affected by COVID-19

The Institute of the National Housing Fund for Workers (Infonavit) reported this Sunday that It will grant discounts of up to 75 percent in the monthly payments of mortgage loans valued in Times Minimum Wage (VSM), with the aim of supporting workers affected by the COVID-19 pandemic.Through a statement published on its social networks, the Institute announced that it launched the Solidarity Support program, which includes three benefits that will "help" more than 220,000 borrowers to achieve the progressive recovery of their family finances: Fixed discount to the monthly payment, cancellation of the complementary interests and discount for amortization in the permanent term."In its first stage of implementation, the program is aimed at borrowers with financings assessed in VSM who suffered...
36% fewer visitors arrive than a year ago
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36% fewer visitors arrive than a year ago

In March 4 million 208 thousand 691 visitors entered the country, a reduction of 36% compared to the same month last year, although the 1,234 million 200 thousand dollars captured for this concept showed a smaller reduction, of 10.1%, reported the National Institute of Statistics and Geography (INAGI).Of the total number of visitors, 2 million 284 thousand 080 were international tourists, a decrease of 17.4% compared to March 2020, but in economic spillover the decrease was 5.1% compared to a year before, to 1,136 million 700 thousand dollars.The segment of international tourists that leaves the country the most resources are those who arrive in the country by air, and in March 926 thousand 478 passers-by arrived, a drop of 6.5%, while the spill amounted to 966 million dollars, a reduction...
The construction industry regressed 10 years: INEGI
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The construction industry regressed 10 years: INEGI

Mexico City. Wrapped in narratives of corruption and slowed down by the pandemic, the construction sector in Mexico regressed a decade as an industrial activity and the companies that comprise it have entered the minimum in 15 years, according to data from the National Institute of Statistics and Geography (Inegi) .Added to the decline accumulated for four years was the Covid-19 outbreak, which delayed the investment of 221 thousand 962 million pesos last year; in addition to 333 projects that involve resources for 33 thousand 506 million pesos that were stopped altogether, without there being any certainty to date that they will be reactivated, says Bimsa Reports.In this context, Francisco Solares Alemán, president of the Mexican Chamber of the Construction Industry (CMIC), explained th...