The majority of the citizens of the middle and poor class reduced their standard of living with the Morena government. When analyzing the first five years of Morena as the ruling party, beyond sympathies or antipathies, based on figures, facts and macroeconomic variables, the decrease in GDP per capita, the increase in the budget deficit, the growing debt of the public sector, the increase in homicides and the reduction of the standard of living of the Mexican people with the current government are verified.
GDP per capita fell from 2018 to 2022. The budget deficit and spending above income grew from 2018 to 2022.
The debt, internal and external, rose during the years that the Morena government has been in power.
The figures released by the same government indicate that there is no progress but regression in Mexico.
The majority of the citizens of the middle and poor class reduced their standard of living with the Morena government.
Canada, the United States, Chile and Guatemala grew more than Mexico. Concrete data, which support these statements, can be found in my book Populist Governments Impoverish, available on Amazon.
The only variables that grew in Mexico from 2019 to 2022 were the government debt, public spending, the budget deficit, overpriced purchases and the losses of state-owned companies.
Among the solutions, easy to say, but difficult to apply, are:
1.- Reduce public spending that wastes resources, without a clear destination and without social benefits.
2.- Privatize state-owned companies, a source of corruption, overpriced purchases and illicit profits for corrupt rulers and businessmen who share the profits, the result of corruption.
By Luis Pazos
Source: El Financiero
