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March 18, 2020Mexicans predict the collapse of the economy due to coronavirus
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Mexicans predict the collapse of the economy due to coronavirus
March 17th, 2019
Within days of starting the information and the rapid advance of cases of Mexicans infected with the coronavirus, the effects on the Mexican economy have already begun to be noticed. Along with international markets, the Mexican Stock Exchange has lost between 7 and 10% from last week to today. This is in addition to a non-existent economic policy of the federal government that has manifested itself in a 0.2% contraction in GDP during the four quarters of last year, according to INEGI figures. The constant cuts to the interest rate made by Banxico do not help clarify the picture either. All these factors glimpse a complicated panorama for the country's economy, throwing the forecasts of a “slow recovery”.
On a personal level, Mexicans' perception of the economy is not as optimistic as it was earlier this year. According to El Financiero in its survey on the subject, 63 percent of those interviewed believe that the coronavirus outbreak will greatly harm the national economy, while 22 percent say there will be some damage. 11% consider that there will be little impact on the Mexican economy. In total, 85 percent of the respondents expect damages to the country's economy due to the pandemic.
On the other hand, mentions the newspaper specialized in economic issues, 40 percent believe that the coronavirus will greatly harm the economy of their home, while 31 percent believe that it will harm them somewhat. In total, 71 percent of the respondents expect damages to the family economy.
Staff
Translator: Martín Caballero
Within days of starting the information and the rapid advance of cases of Mexicans infected with the coronavirus, the effects on the Mexican economy have already begun to be noticed. Along with international markets, the Mexican Stock Exchange has lost between 7 and 10% from last week to today. This is in addition to a non-existent economic policy of the federal government that has manifested itself in a 0.2% contraction in GDP during the four quarters of last year, according to INEGI figures. The constant cuts to the interest rate made by Banxico do not help clarify the picture either. All these factors glimpse a complicated panorama for the country's economy, throwing the forecasts of a “slow recovery”.
On a personal level, Mexicans' perception of the economy is not as optimistic as it was earlier this year. According to El Financiero in its survey on the subject, 63 percent of those interviewed believe that the coronavirus outbreak will greatly harm the national economy, while 22 percent say there will be some damage. 11% consider that there will be little impact on the Mexican economy. In total, 85 percent of the respondents expect damages to the country's economy due to the pandemic.
On the other hand, mentions the newspaper specialized in economic issues, 40 percent believe that the coronavirus will greatly harm the economy of their home, while 31 percent believe that it will harm them somewhat. In total, 71 percent of the respondents expect damages to the family economy.
Staff
Translator: Martín Caballero
