Mexico is showing a more balanced economic recovery and is beginning to leave behind some of the strongest impacts that Covid-19 brought, assured the Secretary of the Treasury, Rogelio Ramírez de la O, and said that today the main engine of the recovery is the domestic market, which represents around 70% of the national economy, to which is added the drive of the export sector.
At the head of the National Meeting of Consultative Councils of Nafin Bancomext, the head of public finances said that between January and August private consumption in the country increased 3.4% in real terms, reaching 96.5% of its prepandemic level. The export sector grew 22.2% annually at the end of the third quarter.
For its part, the labor market has strengthened and in the third quarter of 2021 there are 785,000 more employed people compared to the previous quarter, with which 2.3 million jobs have been created in the year.
He argued that the management of public resources and a solid fiscal position have made it possible to strengthen macroeconomic stability and maintain the sustainable path of the debt without exceeding the ceilings approved by Congress.
Public sector revenues increased 5.6% annually in real terms in the January-September period and it was at this point that the official mentioned the great importance of development banking and, in particular, Nacional Financiera and Bancomext to boost the public and private projects in the country.
The head of the Treasury commented that “Nafin and Bancomext are working on a strategy to consolidate as development, digital and sustainable banks.” For this, priority investments for national economic development must be promoted with a medium and long-term vision.
He emphasized the work they are currently doing to develop a free digital platform that will promote links between customers and suppliers for the growth of their business and promote financial inclusion. He reported that the launch of this platform is scheduled for the second half of 2022.
Ramírez de la O recalled that emissions in ESG format are being favored, which are sustainable stock certificates, such as the 10,000 million pesos that Bancomext placed in these instruments in the local market in October.
New realities, new solutions
In his opportunity, the general director of Nafin Bancomext, Juan Pablo De Botton, assured that the social and economic transformation that is currently being experienced requires a vision of the future and a special sensitivity to achieve a development that balances economic prosperity, profit to society and the care of the environment.
“New realities require new solutions,” he said and highlighted the joint work with the Advisory Councils, which has distinguished the importance of transforming development banks to have a closer relationship with the people and a better approach to all regions and sectors.
He assured that within the bank there is a change of focus: more regional, more local and more sensitive to the realities of small and medium-sized entrepreneurs. “We want to create tailored suits that solve regional challenges, have good coordination with state governments and create a virtuous workforce.”
Reference-www.eleconomista.com.mx