Mexican workers require plans to boost the economy

Record ID: 1467946

  • Title: Mexican workers require plans to boost the economy
  • Date: 6th April 2020
  • Summary: MEXICO CITY, MEXICO (APRIL 6, 2020) (REUTERS) EXTERIOR OF MEXICAN STOCK EXCHANGE DIGITAL SCREEN SHOWING ECONOMIC INDICATORS VARIOUS, PEOPLE WAITING OUTSIDE BANKS VARIOUS, EXTERIOR OF MONEY EXCHANGE (SOUNDBITE) (Spanish) ECONOMIST, ROBERTO AGUILAR, SAYING: "Remember that the best way to collect taxes and have full coffers in government is when an economy is growing. Toda
  • Embargoed: 20th April 2020 23:09
  • Keywords: COVID-19 Mexico business group coronavirus economy
  • Location: MEXICO CITY, MEXICO
  • City: MEXICO CITY, MEXICO
  • Country: Mexico
  • Reuters ID: LVA003C8CUY4N
  • Aspect Ratio: 16:9
  • Story Text:Mexico's most powerful business lobbies said on Monday (April 6) that President Andres Manuel Lopez Obrador's plans to lift the Mexican economy out of a coronavirus-induced crisis were insufficient and more was needed to protect jobs and companies.
    If the government does not back the private sector, Mexico risks a deep recession that could see Latin America's second-largest economy contract 7% and shed between 1 million and 1.2 million jobs, according to the Business Coordinating Council (CCE), an association representing the private sector.
    Lopez Obrador unveiled his plans on Sunday (April 5), vowing to help the poor and create jobs. But his promise to uphold fiscal discipline at the same time sparked criticism that the measures fell far short of what was needed.
    He pledged Mexico would create 2 million jobs in the next nine months and boost small-business and housing loans. He also vowed to tighten public-sector austerity to avoid debt.
    Lopez Obrador's speech coincided with growing calls for his government to emulate the United States and European nations with a major stimulus and relief package.
    Meanwhile, small companies and workers are asking the government to offer aid plans to local entrepreneurs to avoid the closure of companies and massive layoffs.
    Governments worldwide have unleashed unprecedented spending pledges to minimize damage to their economies from the coronavirus, including a $2 trillion package by Mexico's top trading partner, the United States.
    (Production: Carlos Carrillo, Josue Gonzalez)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2020. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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