Mexico will not go through an economic crisis as a result of the presidential elections in the United States, which will be held in November next year, according to the president of the Latin American country, Andrés Manuel López Obrador.
“There have been no negative events in the country that cause any affectation in that matter, as happened in other six-year terms,” the Mexican president said in a press conference.
“According to my analysis, we are not going to have an internal crisis because there is not going to be a financial crisis in the United States because of the presidential election, which is going to be in November of next year. Between now and November [2024], I don’t see an economic and financial crisis,” he added.
“The economic problems that have arisen during his term, which began in 2018 and will end in 2024, originated from issues such as the COVID-19 pandemic or Russia’s special military operation in Ukraine and not from internal aspects,” López Obrador said.
The Mexican president said that it is likely that in 2025 there will be some adjustments in the national economy, but that, so that these are not negative, he will talk to the person who is elected as the representative of the ruling party to which he belongs, the National Regeneration Movement (Morena).
“I deliver in September next year. Anyway, I am going to speak well about this, about how I see things, with whoever replaces me in the transformation movement because we do not have to trust each other at all. For example, that momentum is not lost in public investment and construction,” he said.
Mexico’s debt at the end of AMLO’s six-year term
“My government will leave a lower debt at the end, compared to the six-year terms of Felipe Calderón (2006–2012) and Enrique Pea Nieto (2012–2018),” López Obrador said.
“For the next government, they will have margins because otherwise there is excessive debt; what we are going to leave behind is going to be much smaller in terms of the debt of Calderón and Mr. Pea. They, on average, increased the debt by seven points of the gross domestic product. We will, at most, generate five-point growth. It means that two points of GDP will be available for any situation,” he said.
The Mexican president announced that the Mexican National Institute of Statistics and Geography (INEGI) had made adjustments to Mexico’s GDP figures from previous years.
