Banxico will give a remainder of 80 thousand pesos to the Government of Mexico

Business

By CAPosts 22 January, 2021 - 02:02pm 39 views

MEXICO CITY.- Jessica Roldán, director of economic analysis at Finamex Casa de Bolsa, predicted that this year the Bank of Mexico will grant the government up to 80 billion pesos, which will serve as a "cushion" for public finances.

However, a fiscal reform is also required, with the objective that the rating agencies do not reduce our country's grades.

The central bank will give a small but positive operating remainder to the federal government. We are expecting it to be around 55 to 80 billion pesos, "he said at a press conference.

Roldán stated that a tax reform is also necessary, in order for the country to maintain its investment grade: "In the absence of a tax reform, which convinces, and that throughout the implementation process effectively, we could see a more latent danger to qualification. If we do not see this reform proposal, this could put the sovereign rating in trouble, we could see a reduction in the ratings, "he said.

The expectation of Finamex is that this year the economy will advance 3.5%, a figure that considers that the vaccination of the population against covid-19 takes 15 to 18 months and that, therefore, the economy will recover as the measures of social distancing.

Roldán mentioned that said advance will be a "rebound" and not as such a recovery. He warned that the Mexican economy was already facing problems before the pandemic, which could slow its advance.

Also, while exports are recovering, the same is not happening with the domestic market, where the lack of employment It is affecting consumption.

Regarding the change of administration in the United States, he considered that by injecting more stimuli, the Mexican economy will benefit, due to a greater demand for exports, while these resources will have an impact on the arrival of remittances. By: Eréndira Espinosa.

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Source: MSN