translated from Spanish: «There is no recession in Mexico,» says AMLO

Photography/Twitter @Cachoperiodista
Mexico.- President Andrés Manuel López Obrador said that the economy «is going well», even though growth is zero, and was pleased that technically there is no recession.
At a morning press conference at Palacio Nacional he clarified that his intention is to bring order to the economy and then start the growth process.
The recession is determined by consecutive negative growth in two or more quarters, while in Mexico growth is stagnant.
It should be seen first even in the case of growth that there is technically no recession, the technicians do not like this, but they are the same parameters. There is no recession,» the president said.
He insisted that in this first year his project has been to bring order to the economy and tie it with his country project.
He said his administration suggests that the population has the resources to buy what is necessary for their daily lives and not necessarily have healthy macroeconomic figures.
Jobs are being created, wages are rising like never before, the popular economy is doing well, it is reflected in the increase in consumption, both in department stores and in retail, with numbers. The peso has been reassessed,» he said.
He added that the Trade Agreement with the United States and Canada may be another trigger for economic development in the future.
Part of that strategy, he said, is to be strict in awarding infrastructure works contracts to private companies.
Why the scant growth? Because we’re putting order (…) It’s not granting right-handed and sinister contracts, concessions. Let’s see, invest, even if you destroy the territory, even if you pollute,» he said.
Original source: Millennium 

Original source in Spanish

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