Signs of confidence in the country’s economic direction come from both abroad and within, and are strengthened by the solidity of the government program presented by the frontrunner in the polls for the presidency of the Republic, with expectations of an average annual growth rate of 3 percent.
There is agreement in the forecasts of international organizations such as the IDB or the IMF, as well as optimism from company directors about the encouraging outlook and expectations of business success.
In the economic dispute between the United States and China, Mexico also presents a special attraction for both nations, based on geographical advantages enhanced by nearshoring, labor, and even the strength of the peso against the dollar.
From within, indicators contribute to highlighting an economic policy that is going through a unique moment, called the Mexican moment. None of the neoliberal governments had reduced poverty rates like Andrés Manuel López Obrador, with a constant increase in the minimum wage —the proposal for constitutional reform to make it higher than the projected inflation— and an exchange rate far below the worst forecasts at the beginning of the six-year term.
In her government program for 2024-2030, Sheinbaum Pardo has set the goal of growth at an average annual rate of 3 percent of the Gross Domestic Product and an annual GDP per capita growth rate of 2.4 percent.
The economic proposal, developed by Gerardo Esquivel, who was the deputy governor of the Bank of Mexico during this administration, will boost public investments through the responsible use of resources from debt contracting.
A few weeks ago, with the main American investors in Mexico grouped in the American Society, Sheinbaum outlined her vision of the relationship with the US, the opportunities of nearshoring, and the energy transition. There was, as they say, “chemistry.”
Internal indicators also send encouraging signals. Gross Fixed Investment grew by 19.68 percent last year, the largest increase since 1994 for which data is available from Inegi. Private consumption increased by 4.39 percent and has been above the national economy for three years.
Factors generating confidence to invest in the country, with consequent benefits, from job creation to greater technological development.
The possibilities of growth not seen in decades are increasing and attract a wave of attention.
Source: Forbes
