Monday, March 4, 2024

President says economy fine, dismisses views of ‘conservative analysts’

Dismissing the news that the economy contracted by 0.2% in the first quarter of the year, President López Obrador said today the economy “is doing very, very well.”

The national statistics agency said yesterday the first quarter represented the worst economic start to the year in 10 years.

The president charged this morning that “conservative analysts” are trying to argue that the government is not functioning.

“Our adversaries are betting that things are going badly, day in and day out. They’re talking about economic stagnation, that the government is not working. In fact, we are doing well, very well.”

López Obrador recommended that experts and conservative analysts remember the first quarter of ex-president Ernesto Zedillo, who faced what has been called the worst economic crisis in Mexico’s history.

Zedillo governed from 1994 until 2000 and presided over the Mexican peso crisis in his first month in office.

“I would just like to remind you of the first quarter of the Ernesto Zedillo administration when the economy shrank by 7%. Even so, the conservatives consider that administration a success . . . . So, bravo! We’re doing very well.”

However, not as well as the last three presidents. Annual growth from January till March was 1.3% this year, but under Enrique Peña Nieto the economy grew 2.7% in the first quarter. For Felipe Calderón it grew 2.2% and for Vicente Fox, 1.8%.

Source: El Economista (sp)

Hot, dry weather in the forecast across Mexico

Temperatures will range between 30 and 40 degrees Celsius (86 to 104 F) this week in parts of Mexico as the spring season approaches.

Authorities say Oaxaca wildfire is now 95% under control

Over 400 firefighters are working to contain a wildfire on the outskirts of Oaxaca City that has affected 704 hectares of forest.
A gray whale surfaces near a boat in the waters off Mulegé, Baja California Sur

The week in photos from Mexico: Huachinango to Tulum

Take a visual tour of the country with this selection of photos highlighting the events of the week in Mexico, from the everyday to the exceptional.