Despite the pandemic, Oaxaca’s economy recorded the highest annual growth in the country


Despite the pandemic, the state’s economy recorded the highest annual growth in the country in the fourth quarter of 2020, said Economy Secretary Juan Pablo Guzmán Cobián

Oaxaca de Juarez. — Juan Pablo Guzman Cobián, Oaxaca’s economy secretary, informed the private sector of the actions taken by the agency under his charge before credit institutions and federal agencies in order to reactivate the state’s economy.

This was during a meeting on Monday with presidents of different business chambers in the capital, in which Guzman Cobián was accompanied by The Secretary of Public Security, Heliodoro Carlos Diaz Escárraga and the director of BanOaxaca, Igmar Medina Matus.

The economy secretary acknowledged the collaboration and teamwork of the business chambers, who with their efforts contribute to the economic growth of the state.

“Despite the pandemic and thanks to the Emerging Plan for the Preservation of Employment of Micro, Small and Medium Enterprises, the economy of our state recorded the highest annual growth in the country in the fourth quarter of 2020,“said Guzmán Cobián.

He pointed out that of the groups of economic activities in Oaxaca, the ones that had variations with the greatest increase are the primary sector with 11.5%; and the economic activities of distribution and consumption of goods increased by 33.6%.


He also pointed out that in this same period, the state obtained the eighth place nationally in growth of total employed personnel in the wholesale trade.

“Data from the Mexican Social Security Institute indicate that in Oaxaca one thousand 125 new formal jobs were generated in the month of February of this year, which represents a growth of 0.5% compared to January,” he stressed.

In his speech, The Secretary of Public Security, Heliodoro Díaz Escárraga, reiterated his commitment to the different sectors of society, and especially to businessmen, “so that the state continues to be a safe entity, conducive to economic investment.”

For his part, the director of BanOaxaca, Igmar Medina Matus, highlighted that during the administration of Governor Alejandro Murat, for the first time in Oaxaca, the State Government, through this citizen bank has benefited more than 41,500 Oaxacan MSMEs, achieving an investment of more than 2,212 million pesos exclusively allocated to this sector.

He also announced the availability of a purse of 70 million pesos from the Impulso-Nafin Program that is currently available to Oaxacan companies, with amounts ranging from 125 thousand to five million pesos.


The Oaxaca Post