López Obrador boasts “Mexican humanism” economic model
Campeche (México), Sept 1 (EFE). -The Mexican President, Andrés Manuel López Obrador, said on Friday during his government report in Campeche (southeastern Mexico) that his economic model, “Mexican humanism,” works “exceptionally.”
According to Lopez Obrador’s definition, “Mexican humanism is summed up in the idea that the poor come first for the good of all.”
The president “pointed out that the Mexican economy has grown more than 3% yearly since the COVID-19 pandemic.
“The results show that in the almost five years of my government, our development model is effective and works exceptionally well,” he said.
This report is López Obrador’s fifth and penultimates, as according to Mexican tradition, presidents communicate their results every September 1.
At the event, he announced what he considers to be the economic achievements of his administration, which began in December 2018.
The 88% increase in the minimum wage is “something that had not been seen in the last 40 years.”
“In today’s Mexico, as never before, 22 million workers are registered to the Mexican Social Security Institute, who receive an average of 16,284 pesos per month ($957). When we came to power, the minimum wage was 88 pesos ($5.17), now it is 207 ($12.17),” the president added.
He also mentioned that Mexico is “the third country in the world with the lowest unemployment.
He continued to add that the reserves of the Bank of Mexico amount to 203,000 million dollars, and the debt remains at a proportion of 44% of GDP, which he received at 43.6%.
“After the pandemic, our economy has grown by more than 3% per year, the Mexican peso is the currency that has strengthened the most against the dollar, and foreign investment is arriving like never before,” he stressed.
“The remittances sent by our migrant compatriots to their relatives, for which we sincerely thank them, will exceed 60,000 million dollars this year, a record figure that will greatly relieve 12 million families,” he said.
The president defended this success due to his policy of prioritizing people experiencing poverty.
“It is false that if the top do well, those at the bottom will necessarily do well. Our alternative model implies the opposite: ” taking care of the base of the social pyramid first to generate better income for families,” he said. EFE
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