- Title: Mexican billionaire Slim vows to invest in Mexico, touting economic prospects
- Date: 17th October 2019
- Summary: MEXICO CITY, MEXICO (OCTOBER 16, 2019) (REUTERS) NEWS CONFERENCE IN PROGRESS CARLOS SLIM (RIGHT) DURING NEWS CONFERENCE VARIOUS OF VIDEO PRESENTATION AT NEWS CONFERENCE NEWS CONFERENCE IN PROGRESS (SOUNDBITE) (Spanish) BILLIONAIRE, CARLOS SLIM, SAYING: "With the objectives, 100% in agreement (with the government). To lower current expenditure, an austerity government, to get rid of corruption, impunity, to combat crime to for economic growth and development. And to develop the south-east. I am completely in agreement." NEWS CONFERENCE IN PROGRESS (SOUNDBITE) (Spanish) BILLIONAIRE, CARLOS SLIM, SAYING: "This year it was a given, it's a given that growth is going to be, it's the same whether it's 0.4%, 0.6%, or zero. This year there won't be growth. But that's part of the bad news. What's the good news? That inflation will go down by half." SLIM AND OFFICIALS AT NEWS CONFERENCE (SOUNDBITE) (Spanish) BILLIONAIRE, CARLOS SLIM, SAYING: "It depends a lot on what we have but it'll be more than $100 million pesos (approximately $5.2 million USD). There are no brakes, there are many projects and a lot of money. So what's to be done is to get this money in the world and in the national bank for that." NEWS CONFERENCE IN PROGRESS MODEL OF PLANNED MUSEUM AT MEXICO CITY'S NATIONAL AUTONOMOUS UNIVERSITY OFFICIAL SPEAKING AT NEWS CONFERENCE MEDIA AT NEWS CONFERENCE NEWS CONFERENCE IN PROGRESS
- Embargoed: 31st October 2019 00:27
- Keywords: Carlos Slim billionaire Mexico City Mexico infrastructure Mayan train President Andres Manuel Lopez Obrador
- Location: MEXICO CITY, MEXICO
- City: MEXICO CITY, MEXICO
- Country: Mexico
- Topics: Government/Politics
- Reuters ID: LVA001B1CIURR
- Aspect Ratio: 16:9
- Story Text: Mexican billionaire Carlos Slim said on Wednesday (October 16) that he expects to invest up to $5 billion in Mexican infrastructure during the current administration as he delivered a full-throated endorsement of the economy despite investor jitters.
Speaking at a news conference in Mexico City, Slim said he is "100% in agreement" with the goals of leftist Mexican President Andres Manuel Lopez Obrador, whose economic policies have spooked ratings agencies and investors since his six-year term began in December.
Slim and Lopez Obrador, who have collaborated since the politician's time as Mexico City mayor in the early 2000s, appeared to be at odds after Lopez Obrador pulled the plug on a $13 billion new airport project in which Slim was heavily involved. But Slim, in remarks delivered in the offices of his Grupo Financiero Inbursa, gave no hint of animosity.
Slim singled out the planned Mayan Train, which would connect tourist hotspots in southeastern Mexico, as one attractive target.
Although he predicted that the Mexican economy would not grow this year, Slim was bullish on the investment climate in his home country, predicting that gains in the minimum wage and social aid programmes would boost consumption.
(Production: Roberto Ramirez)
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