Government Measures to Revive the Economy
It is important to know what measures will be used to reactivate the economy, to deal with the crisis that has been generated by the declaration of a health emergency due to force majeure, so, during the presentation of the quarterly report presented by the President of Mexico Andrés Manuel López Obrador, last Sunday April 5, 2020 at the National Palace, he informed us that the economic recovery would soon be restarted, and that would focus on an emerging plan, which is designed specifically for the growth of this.
The President of Mexico said that in order to address the economic impact and reactivation of the economy, the savings of the stabilization fund of budgetary revenues will be used; the resources of trusts; and will rely on development banking. However, he reported that measures will be taken to reduce the cost of government to society. Below, we specifically mention some of the points proposed:
1.- Reduction of salaries of high public officials and elimination of bonuses from the positions of deputy directors to that of the President of Mexico.
2.- Reduction of government advertising expenses, travel expenses and operating expenses.
3.- Provision of personal loans, housing for small family businesses in the formal and informal sectors of the economy.
4.- Implementation of the Sembrando Vida programme.
5.-Implementation of a public, private and social investment programme for energy sector.
6.- Construction contract by Tren Maya.
7.- Fovissste and Infonavit will provide housing loans for nine months.
8.- Creation of new jobs.
9.- Taxes will not be increased nor new ones created, and VAT refunds to taxpayers will be quick.
10.- An additional objection will be granted to PEMEX to reduce the tax burden.
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