Headlining the last morning press conference of the year, President Andres Manuel Lopez Obrador released a detailed balance sheet of the economic progress of Mexico in 2022; He highlighted that priority attention was given to the people through Well-being Programs.
“We are emphasizing development that has to do with income distribution, so there may be little growth, but with a better distribution and this means improving the living conditions of those below,” he asserted.
He predicted that in 2023 the forecast is to grow at an average annual rate of at least 3 percent and in 2024, which will allow recovery after the fall due to the pandemic.
“We are going to have growth, even if it is a little more than one percent per year during our government; this is not a small thing for that drop of 17.8 percent that has not been seen since 1933 ”, he pointed out.
The growth of the Gross Domestic Product (GDP) in the third quarter of 2022 in Mexico, he explained, stands at 0.9 percent, which exceeds countries such as Canada, the United States, Italy, Portugal and South Korea.
To date, there are 21,462,967 jobs registered with the Mexican Social Security Institute (IMSS), that is, 849,431 jobs more than in February 2020.
“It is the largest number of jobs since officially registered information is available; Unemployment rates are among the lowest in the country, that is good data, ”she added.
Currently, the average monthly remuneration of the insured reaches 14 thousand 768 pesos.
“We feel very proud that, in 40 years, this has not happened, what is happening, this increase in the minimum wage.”
As of January 1, 2023, the minimum wage will rise to 207.4 pesos, a 90 percent increase in purchasing power compared to 2018, which will make it possible to purchase 10.2 kilograms of tortillas; 4.7 of egg and 5.2 of beans.
In the National Palace Treasury Hall, he endorsed that the Government of Mexico consolidates infrastructure works without additional debt, generating jobs and well-being.
Foreign Direct Investment reaches 32 thousand 147 million pesos this year, a historical record in this area since it has been recorded.
“It will continue to grow because Mexico has an exceptional comparative advantage in the concert of nations; there is political stability, the best workers in the world, proximity to the largest market in the world and the Treaty (T-MEC) so that investments can arrive, ”she argued.
Until November of this year, remittances totaled 53 thousand 125 million pesos.
“It is the main source of income for our country; this reaches ten million Mexican families and throughout the territory to the most remote communities,” he added.
Regarding the strength of the Mexican peso, the president indicated that as of December 28 it is the second most appreciated currency in relation to the dollar; it stands at 4.6 percent compared to the previous six-year term that registered a devaluation of 60.1 percent.
The Chief Executive mentioned that inflation is at 7.8 percent as of November, thanks to inflationary control measures for the benefit of consumers.
“Fortunately, we already achieved a small decrease. It was key to make the decision to maintain a subsidy for gasoline and diesel. (…) That decision was unorthodox, which has nothing to do with orthodox neoliberal formulas, this was unique, one of the few countries in the world; then others followed us who had to accept that gasoline could not increase so much, ”he said.
He specified that the Opening Agreement Against Inflation and High Costs (Apecic) between the Government of Mexico and producers, distributors and food companies contributes to the protection of the popular economy.
He pointed out that the National Security Strategy contributes to peace and tranquility that allow creating an attractive environment for investment, as indicated by the behavior of the Mexican Stock Exchange, which grew 19 percent in December.