Fiscal Discipline Boosted by Q4 Puts Mexico in Unique Situation, Says HSBC

After the crisis derived from Covid-19, Mexico is in a unique situation and is one of the countries that offers the best opportunities, he said Jorge Arce, CEO of HSBC Mexico.

Jorge Arce stressed that despite concerns about inflation and that in 2022 there will be an economic slowdown due to a rebound effect, the country has taken actions that put it in a unique situation.

As an example, the banker noted that the fiscal discipline that the government has hadIt will be positive in the future, in addition to the fact that another positive point is the reaffirmation of the trade agreement with the United States and Canada, and the pension reform.

He also highlighted the fact that during the pandemic the economy in the country was not completely closed, and that a good effort has been made to vaccinate a large part of the population.

“There are positives and negatives. It is one of the countries that offers the best opportunities, without a doubt. It is a democracy. We can fight, think differently. The fact that we are a democracy speaks very well of the country, that there is alternation, “he said.

He added: “also we came out relatively strong fiscallyThis gives the government flexibility in using resources to try to accelerate and invest in priority areas ”.

Government could have done a better job of incentivizing investment

Despite this, the director of HSBC Mexico considered that the government could have done more to encourage investment and give investors a little more certainty in certain areas.

This, he said, will mean that next year will not see such robust growth. “We are coming out of this situation relatively robust,” he emphasized.