A report highlights concerns from Dr. Sheinbaum regarding Mexico's stagnant economy and the lack of results from the Mexico Plan despite ambitious infrastructure project announcements.
A recent report by Bloomberg has revealed private concerns from Dr. Sheinbaum about Mexico's stagnant economy, particularly in light of the underwhelming outcomes of the Mexico Plan. Despite flashy announcements of infrastructure projects amounting to 5.6 trillion pesos for the current administration, questions arise about how these ventures will be financed. Furthermore, Secretary of Economy Marcelo Ebrard mentioned verified private investment projects exceeding 400 billion dollars across the country, adding to the public's curiosity regarding their financial backing.
Last year, the Mexican economy experienced a mere 0.7% annual growth, resulting in an average annual growth of just 0.9% over the past seven years. This performance starkly contrasts with the more robust 2.3% average annual growth benchmark from the previous three decades before the current Morena administration. Such chronic sluggishness raises concerns about the long-term viability of growth in the country and the effectiveness of government policies in stimulating economic activity.
The significant incongruity between the ambitious initiatives and the current economic reality further fuels skepticism among citizens and stakeholders. As the news develops, the effectiveness of policy measures aimed at revitalizing the economy will be under scrutiny, and the potential for these announced projects to transform Mexico's economic landscape hinges on a more substantial approach to development banking and financing.
