AMLO: May will end with a million loans granted to reactivate the economy

Mexico’s President, Andrés Manuel López Obrador, is today well-rounded at the first press conference of the week. Already while answering the first question one can hear and see that he has prepared himself for his agenda, he wants to dominate today’s news in the media in general. He assured that May will end with a million loans granted to reactivate the economy.

President Andrés Manuel López Obrador promised that the government for the Fourth Transformation at the end of May has provided one million credits for economic re-activation and housing promotion. To date, the amount to 752 thousand 999 credits awarded with an investment of more than 45 billion pesos.

At a press conference yesterday morning, the President stated that the goal is to reach up to 4 million credits by 2020 to provide financial security to the people, and that “they are calm without the uncertainty prevailing in times of crisis; that we are all starting the reactivation of the economy and that there is well-being in the country (…) the sooner people have support, the better ”.

He argued that comprehensive welfare programs and strategic work will promote the development of various sectors and will serve to create 2 million jobs.

For example will the Jóvenes Construyendo el Futuro initiative, which since the start of the government has provided work to 1,300,000 young people, and employed 230,872 women and men between the ages of 18 and 29 to work as apprentices in companies, workshops, and shops.

Actualizada as of May 24, 2020

The urban improvement program, through which interventions in public spaces and urban facilities in marginalized neighborhoods, will create 228 thousand jobs.

The president reiterated that he is awaiting consent from the health authorities to signal the construction of four sections of the Mayan train in the southeastern part of the country.

“I am very interested in the beginning of this work because there will be 80,000 jobs in the four sections this year, and so we are adding jobs,” he emphasized.

He assured that the construction industry is key to advancing the economy, and so 1,350 branches of Banco del Bienestar will be built during this year.

He announced that the opening of the first 300 completed branches, if possible, will begin in a month.

In terms of energy, he specified that as a result of the economic crisis due to the coronavirus epidemic, a decision was made not to sell crude oil but to refine oil in Mexico to promote self-sufficiency.

In the health sector, he emphasized that 45,000 more doctors and nurses are employed, a number that will increase to strengthen the public system.

The president confirmed that he will continue to define the new method of measuring the well-being of Mexicans, which will include income distribution, education, the level of corruption in the country, happiness, among other factors.

“You can continue to measure the gross domestic product, but we also have a new, different parameter to measure how we are doing in Mexico. (…) An interdisciplinary team is being formed for this new parameter. We not only want to ask people about the material issue, but also about other factors or material well-being, but also about the soul, growth, justice, democracy, welfare, ”he explained.

He reiterated that there will be no new indebtedness and that there will also be no tax exemption. Even with the economic crisis, he said, taxpayers are meeting their tax obligations to the Treasury, and even “those who did not pay now pay because the rules have already changed.”