2020, Year of Leona Vicar, Meritorious Mother of the Nation
During his second speech at the G20 Virtual Summit of Leaders, President Andrés Manuel López Obrador called for facing the economic and health crisis through fraternity among the countries of the world.
“Cooperation and mutual aid will allow all nations to overcome this painful period; I hope that we will be able to leave in history an example of how to face a global health threat and a serious economic crisis through the application of the principle of universal brotherhood ”, he said.
In the session “Overcoming the pandemic, restoring growth and employment”, the president proposed to make a reality the commitment to remove amounts of debt and the payment of services to poor nations of the world.
It also ensures that middle-income countries can have access to credit with interest rates equivalent to those prevailing in developed countries.
Accompanied by members of the Legal Cabinet, the Chief Executive stressed that thanks to austerity measures and the fight against corruption, Mexico did not have to resort to new loans.
He stressed that all the resources released were allocated directly, without intermediaries, to benefit the base of the social pyramid, to strengthen the income of the majorities and prevent consumption from falling.
He reported that until November 21, department stores sold eight percent more than in the same period of 2019.
“Preference was given to the poor and members of the middle classes. For this reason, pension payments to the elderly and people with disabilities were advanced. The delivery of scholarships was maintained; support to farmers and fishermen. The credit program was expanded to small companies in the formal and informal sectors of the economy, ”he explained.
He explained that this strategy coincided with the arrival of remittances sent by fellow migrants from the United States, which will reach a record sum of 40 billion dollars despite the pandemic.
Likewise, the appreciation of the national currency against the dollar and the minimal decrease in revenues to the public Treasury have contributed to stability.
The president said that the economy is beginning to grow and 500 thousand of the million formal jobs lost have been recovered, so he hopes to have the 20 million 500 thousand jobs that were registered in the Mexican Institute of Social Security before the COVID-19 epidemic.
“The forecast we made is being fulfilled in the sense that the crisis would have a V-shaped behavior; we would fall to the bottom as happened in April but we would come out of the hole as in fact it has been happening ”, he said.
He indicated that the economic crisis that precipitated the pandemic affected productive activity and growth decreased in an unprecedented proportion in the last 90 years, which raised the public debt – even though no new one was contracted – from 44.8 to 51.1 of the Gross Domestic Product .
“This same thing has happened all over the world; the debt grew from the pandemic by an average of 20 percent and if we do not address this issue from now on, in the future it will become another threat to economic stability and social well-being, “he said.
Germany, Saudi Arabia, Argentina, Australia, Brazil, Canada, China, United States, France, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Russia, South Africa, Turkey, Kingdom participated in the G20 Virtual Summit of Leaders United and European Union.
Representatives from the United Arab Emirates, Spain, Jordan, Rwanda, Singapore, Switzerland and Vietnam were among the invited countries.
In the Daniel Cabrera Room of the National Palace, the remote meeting was witnessed by the Secretary of Foreign Relations, Marcelo Ebrard Casaubon; the Secretary of Finance and Public Credit, Arturo Herrera Gutiérrez; the Secretary of Economy, Graciela Márquez Colín; the Secretary of Health, Jorge Alcocer Varela; the Undersecretary of Prevention and Health Promotion, Hugo López-Gatell Ramírez and the Undersecretary of Finance, Gabriel Yorio González.