translated from Spanish: AMLO rules out fiscal stimulus over coronavirus involvement

President Andrés Manuel López Obrador ruled out the government’s contemplation of tax stimulus for businesses because of the economic impacts of coronavirus.
During his morning conference on Monday, López Obrador said that “a good stimulus is the decrease in the price of fuels, a good stimulus is that we do not increase taxes and that we will publicize the energy development plan.
The representative noted that by the end of this week they will have all the investment projects, among them announced that there will be one of the entrepreneur Carlos Slim.
“I’ve been having meetings with entrepreneurs, they’re informing me of their investments. We’re doing our job,” he said.
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Treasury announced “economic buffer”
Last Friday, March 13, the head of the Ministry of Finance, Arturo Herrera, announced that the unit would apply stimuli as an “economic buffer” to lessen the effect.
At the opening of the 83rd Banking Convention, the owner of the Treasury recognized that the Mexican economy will be impacted by the coronavirus.
Herrera indicated that there are negative effects on the economy, on the transport and tourism industry, however “there will be some greater impacts”.
“What we are doing now in the Ministry of Finance is not expecting the impact to be given to give it a boost, but trying to start stimulating the economy from now on, to create a kind of economic buffer, to raise the basis on which the economy is going to be affected,” he said.
Read more: CDMX prepares for phase 2 of coronavirus: calls for postpone events and reinforces filters
The Treasury will be attentive to the decisions of the Ministry of Health to know the possible impacts that may be in the economy by the Coronavirus Covid-19, with which, its holder said, will design the answer.
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Original source in Spanish