Despite the impact of the Mexican economy in the third quarter, the recovery has not been interrupted and, for the moment, the estimates made of the growth of the Gross Domestic Product (GDP) they are still in the ranges that had been marked, he stated Gabriel Yorio, Undersecretary of Finance.

Interviewed in the framework of the delivery of the 2020 Citibanamex Economy Prize, the official stressed that the information on the last quarter has yet to be seen.

“El Buen Fin behaved quite well; It is also necessary to see how the productive sectors perform, especially services in these times, and I believe that the estimates that we made are still in the statistical ranges that we had estimated. But we will know as soon as the fourth quarter of the year is published, there are very specific dates. The message that should be given is that the recovery has not been interrupted, ”he stressed.

Gabriel Yorio explained that the third quarter had two very clear impacts: one, the accounting of the Outsourcing Law. “The way intermediate goods are accounted for in the production chain, and this has an immediate effect on the way the product is reflected. This does not mean that the recovery has been interrupted, ”he said.

He added that the other impact has been the third wave of Covid-19 -which part was registered in the third quarter-, and specified that the population has already learned to deal with the pandemic, and as soon as new waves are observed, certain sectors Productive people naturally restrict their activities.

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“What I think is going to happen going forward, is that, to the extent that there are new variants and new waves are generated, we are going to see these ups and downs, but they do not interrupt the recovery,” he emphasized.

Emphasizes the importance of the award

Regarding the Citibanamex Prize for Economics, the Undersecretary of Finance highlighted the importance of this contest and the research works that participate, since, he said, they serve for the development of public policy.

He recalled that the outgoing governor of the Bank of Mexico (Banxico)Alejandro Díaz de León – whom he recognized for his work at the head of the central body – was at the time the winner of this award, as were other officials.

Manuel Romo, CEO of Citibanamex, mentioned that, despite the pandemic, 65 works were registered in this edition of the award, of which 25 were undergraduate thesis and 40 research, in which 93 students and researchers from 46 educational institutions.

“At Citibanamex we will continue to promote free, diverse and rigorous analysis and reflection that will help us, as a country and as a society, to better understand our problems, anticipate scenarios, adapt to changing circumstances and implement the best solutions to our problems,” he said.

The winners of this edition were, at the undergraduate level: Cutberto Frías; and with honorable mention, Jürgen Daniel Von Der Meden, Julio Delgadillo Zepeda and Gabriel Marín Muñoz; while in the research category: Diego Javier Jiménez and Enrique Seira with the first place; Manuel Alejandro Estefan, Amme Brockmeyer and Juan Carlos Suárez with the second; and Sergio Villalvazo with honorable mention.

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