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CITY OF MEXICO.- The Mexican economy will face the presidential election to be held this Sunday, July 1, in a scenario of macroeconomic strength.
According to the Bank of Mexico (Banxico), the country's international reserves are at $ 173 billion before the elections a figure greater than the $ 156 billion there at six years and at the 77 billion of 2006.
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In addition, the flexible line of credit with the International Monetary Fund (IMF), 88 billion dollars, is greater than the 71 billion of 2012 12 years ago, this instrument was not available.
Mariana Ramírez, deputy director of economic strategy at BX +, and Janneth Quiroz, deputy director of economic analysis at Monex, agreed that the resources available in the country speak of the level of trust According to Mariana Ramírez, director Economic Strategy Assistant at BX +, and Janneth Quiroz, Deputy Director of Economic Analysis at Monex, they agreed that resources available for the country speak to their level of confidence in economic stability.
In addition, a flexible exchange rate regime allows it to absorb external shocks and prevent other variables from being affected. Even if we notice a depreciation, it is not necessarily negative, because in addition to protecting the economy, it also increases the competitiveness of the country, "said Mariana Ramírez. to the world and not to use it gives us more strength, "says Janneth Quiroz
Photo: Daniel Rey / Sources: Bank of Mexico, Inegi, SHCP, IMSS and IMF [19659003] Other factors of strength were distinguished, such as the sustained growth of 2.3% per year and the vacancy rate of 3.2% for May.
Growth
For the specialists, these fundamentals allowed the Mexican economy remains afloat despite the multiple external factors threatening it, whose growth is now 2.3% per year, according to data from INEGI, although this rate is more moderate than previous years (3.7% in 2012 and According to the analysis of Mariana Ramírez, BX + analyst
the uncertainty caused by NAFTA reduced investment and caused a 4.6% decline in 2006). Janneth Quiroz de Monex
Employment
In the labor market, the one that preceded the election recorded an unemployment rate of 3.2%. Percentage of the economically active population, lower than the 4.8% recorded in 2012 and at levels similar to those of 2006, experts have estimated that this is another force factor of the Mexican economy.
The progression of formal employment in the sexennium has been remarkable, which is due to the formalization of previously informal jobs and the generation of others. The big challenge is still the issue of wages, since most new positions are in the low income brackets, "said Mariana Ramírez
The data on employment show some strength of the domestic market, which has was a pillar for »Janneth Quiroz
Public Finance
Mariana Ramírez of BX + and Janneth Quiroz of Monex pointed out that the public debt would be outstanding for this sexennium, since before the elections it accounted for 44.2 % of GDP., 9 points higher than before the 2012 elections and 14 points more than in 2006. However, they agreed that the government's reaction to control it was important at the end of the year. sexennate after the "earning" rating agencies in 2016.
The increase in debt leaves a narrow margin for the next government, so it's expected to increase its revenues if she wants to fill a lot of its election promises, "said Mariana Ramírez
. Employment has increased the tax base and increased the collection, which is positive because it reduces the dependence on oil revenues, "said Janneth Quiroz.
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