AMLO’s government still reluctant to increase spending during pandemic


Mexico Could Pitch Fresh Stimulus if Necessary, Deputy Finance Minister Says.

Mexico’s Undersecretary of Finance and Public Credit Gabriel Yorio speaks during an interview and declares that AMLO’s government is still reluctant to increase spending amidst the pandemic.

MEXICO CITY (June 29, 2020) – Mexico has its finances under control and if necessary, could put forward additional measures to stimulate growth in the face of the coronavirus pandemic, Deputy Finance Minister Gabriel Yorio said on Monday June 29.

“So we need to be watchful, and we’ll be ready to propose another package should it be necessary, but we can see that recovery has begun,” Yorio told a news conference.

Deputy Finance Minister Gabriel Yorio

Mexico’s economy contracted by a record 17.3% in April and the government has come under fire for its reluctance to increase spending to weather the effects of the pandemic.

(Reporting by Sharay Angulo; Editing by Marguerita Choy for REUTERS)

Source: Reuters.