Mexico's government presented an almost $14 billion infrastructure investment plan on Monday as President Andres Manuel Lopez Obrador seeks to repair rocky relations with business leaders and lift the struggling economy.
MEXICO CITY - Mexico’s government presented an almost $14 billion infrastructure investment plan on Monday as President Andres Manuel Lopez Obrador seeks to repair rocky relations with business leaders and lift the struggling economy.The package, mostly privately financed, is the first clear sign of corporate bosses’ readiness to invest under Lopez Obrador since the coronavirus pandemic plunged Latin America’s no. 2 economy into its biggest slump since the Great Depression.
“We have no problem with business leaders. On the contrary, they deserve our utmost respect and admiration because they invest, generate jobs and create welfare,” he said alongside some of Mexico’s most prominent industry chiefs. The resulting chill in investor confidence that set in helped to tip Mexico into a mild recession in 2019 before the pandemic battered the global economy.
This year, leading forecasters expect Mexico’s economy to contract by up to 10% or more. Lopez Obrador has resisted calls to splash out to counteract the effects, keeping a tight rein on public purse strings to avoid going into debt.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mexico unveils $14 billion investment plan to gee up economyMexico's government and business leaders on Monday presented a series of planned investments worth nearly $14 billion which President Andres Manuel Lopez Obrador hopes will help to lift the struggling economy.
Read more »
Thousands flock to Mexico City protest against President Lopez ObradorThousands of protesters marched through central Mexico City on Saturday in one of the biggest demonstrations against President Andres Manuel Lopez Obrador since he took office nearly two years ago.
Read more »
Mexico sees record 2,789 Covid -19 deaths in one day – latest updatesHere's a look at Covid-19 updates: 🇲🇽 Mexico reports record 2,789 deaths 🇧🇷 Brazil records over 300 more fatalities 🇺🇸 NYC closes schools after virus surge 🇨🇳 China reports 12 new cases For more:
Read more »
Mexico reports 3,712 new coronavirus cases, 208 more deaths: health ministryMexico's confirmed coronavirus cases rose to 761,665 on Sunday with a total reported death toll of 79,088, according to the health ministry.
Read more »
Mexico unveils $14 billion investment plan to gee up economyMexico's government and business leaders on Monday presented a series of planned investments worth nearly $14 billion which President Andres Manuel Lopez Obrador hopes will help to lift the struggling economy.
Read more »
Microsoft unveils investment to make Greece a regional hub for cloud servicesMicrosoft Corp. will invest in cloud services infrastructure in Greece, a boon to the country's economy that has been weakened by a decade-long debt crisis and the coronavirus pandemic, senior executives of the technology giant said on Monday.
Read more »