*** The Hardest Stage For The Economy Comes, by COVID-19
By Mary de LA RIVERA / Virgilio SANDOVAL / EL UNIVERSO / The UNIVERSE News.
Mexico, City.-President Andres Manuel Lopez Obrador said in the morning conference this Thursday that the country will be well rid of the COVID-19 pandemic and will face the economic crisis resulting from the health emergency.
Although He said that : “… Victory can not sing yet, because the most difficult stage for the country’s economy due to COVID-19 is coming, President Andres Manuel Lopez Obrador said that fortunately the fall of the Gross Domestic Product (GDP) was not greater in the first quarter of 2020.”
The Mexican President said: “I always transmit optimism to the people of Mexico. I am sure, absolutely sure, that we are going to come out ahead. We will get out of the pandemic safely.”
“… And we are also going to face the economic crisis, and we are going to achieve relatively soon the recovery in the productive, and above all we are going to guarantee the welfare”.
Mr. OBRADOR pointed out that: “…He has two reasons to be optimistic about the situation: first, because of the actions taken to face the pandemic.”
“…The second thing is the economic recovery. Today I want to tell you that the INEGI is announcing the percentage of the Mexican economy’s fall in the January, February, March quarter.”
“…Some predicted that the drop would be greater, and fortunately it was not, 1.6 (percent) over the previous quarter, that is, October, November, December of last year, 1.6 (percent),” he said.
Mexico’s Gross Domestic Product (GDP) contracted by 2.4 percent annually in the first months of the year, according to the estimate of the National Institute of Statistics and Geography (Inegi) published earlier today.
The national economy had not reported a drop of that magnitude since 2009, when it contracted by 5 percent a year in the third quarter, at the height of the global crisis.
According to experts, this is the third consecutive quarter that the country has recorded an economic contraction at an annual rate, after -0.4 percent and -0.2 percent in the fourth and third quarters of 2019, respectively.
