Thursday, September 21, 2023

Fifth Government Report. Results in economic affairs 07.09.2023

On September 1st the President Andres Manuel Lopez Obrador, from Campeche, presents the most important results on the occasion of the Fifth Government Report. A government in which results have proved that the development model of Mexican humanism, summed up in the phrase “for the good of all, the poor first”, is effective and works in an exceptional way.

This model is designed to first serve the base of the social pyramid, thereby creating better income and well-being for Mexico, but also allows to guarantee fundamental and essential conditions for the promotion of investment, economic growth, job creation and the preservation of the social peace.

In terms of employment, 22 million workers are registered with the IMSS, earning an average of 16,284 pesos a month. The minimum wage has increased from 88 pesos a day to 207 pesos a day and is 312 pesos a day on the northern border. That is an increase of 88%, which has not been seen in the last 40 years. This makes us the third largest country in the world with less unemployment.

After the pandemic, our economy has grown by more than 3% per year. The peso is the currency that has appreciated the most against the dollar in the world. Remittances from our migrant brothers will top $60 billion this year, a record amount that will benefit 12 million families, particularly in the country’s poorest and most marginalized communities. Additionally, we were the United States’ top trading partner for the first six months of 2023.

The stock market index in Mexico has grown by 27 percent. The Bank of Mexico has reserves of $203 billion. Public debt has practically not grown as a percentage of GDP, despite the global crisis caused by the pandemic and the war in Russia and Ukraine. It was 43.6 in 2018 and is 44% today as no additional loans were taken out.

These are important results achieved by not allowing corruption. The success of the Fourth Transformation government lies in the fact that there are now no tax privileges for large business and financial corporations that have not paid taxes. Republican austerity is a reality, not a simulation; Austerity measures are not just an administrative matter, they are a matter of principle. The budget is not wasted, it is the people’s money.

In the executive branch, there are no longer high salaries for civil servants, no millions in pensions for former presidents, no overnight allowances and no political tourism abroad. In 2018, the Presidency of the Republic had a budget of three thousand 600 million pesos, this year only 600 million pesos will be used, six times less.

Adhering to the principles that there should be no rich government with poor people, avoiding corruption and avoiding budget squandering have made it possible like never before to save and help the poorest and most vulnerable in the country. The mandate of the President Lopez Obrador It has shown that with a dignified and hard-working people and an honest and strict government, it is possible to live in a better, more just, more free, more fraternal and more egalitarian society.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news