The president Claudia Sheinbaum met this Friday at National Palace with the executive director of Fitch Ratings, Shelly Shetty.
Through a message on her “X” account, the president commented that at the meeting they talked about the good performance of the Mexican economy, healthy finances and Mexico’s plans.
“We met at the National Palace with Shelly Shetty, executive director at Fitch Ratings, and her team, to address the good performance of our economyhealthy finances and plans for Mexico,” Sheinbaum wrote on the social network.
You might be interested: T-MEC is very good for Mexico, the US and Canada and should continue: Sheinbaum
Earlier, during his daily morning conference, the Secretary of Finance and Public Credit, Rogelio Ramírez de la Opresented the expenditure project for 2025 and emphasized that this has a medium and long term vision.
Seek a balance between income and expenses, in such a way that the reduction of the 5.9% budget deficit of the Gross Domestic Product (GDP) a 3.9 % and continue with a message that the fiscal situation is consolidated.
He recalled that the total amount of expenditure was calculated in 9.3 billion pesoswhich represents a nominal increase of 2.6% compared to that authorized for the year 2024, equivalent to 235 billion pesos.
On his agenda this Friday, Sheinbaum will have private activity in Aguascalientes y Guanajuato and on Saturday he will go to the port of Manzanillo in Colima and later to Michoacan.
We met at the National Palace with Shelly Shetty, executive director at Fitch Ratings, and her team, to address the good performance of our economy, healthy finances, and Mexico’s plans. pic.twitter.com/awL40j1BUl
— Claudia Sheinbaum Pardo (@Claudiashein) November 22, 2024
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What are the key indicators of Mexico’s economic performance mentioned in the interview?
Interview between Time.news Editor and Economic Expert
Editor: Welcome, everyone, to another edition of Time.news interviews. Today, we have with us Dr. Ana Martinez, a distinguished economist and expert in fiscal policy, to discuss an important recent meeting between President Claudia Sheinbaum and Shelly Shetty, the executive director of Fitch Ratings. Thank you for joining us, Dr. Martinez.
Dr. Martinez: It’s great to be here. Thank you for having me.
Editor: Let’s start with the big picture. President Sheinbaum tweeted about the meeting at the National Palace, stressing the good performance of the Mexican economy. What are some of the indicators that reflect this good performance, in your opinion?
Dr. Martinez: Certainly! The Mexican economy has shown resilience, particularly with GDP growth reflecting post-pandemic recovery. There have been improvements in employment rates, and key sectors like manufacturing and agriculture have been quite robust. Additionally, our export numbers, especially under the T-MEC agreement, have been encouraging.
Editor: Speaking of T-MEC, President Sheinbaum mentioned its importance in other statements. How does this agreement play a role in the positive performance she’s referring to?
Dr. Martinez: T-MEC has been pivotal for trade relations between Mexico, the U.S., and Canada. It has provided a framework that promotes trade security and incentivized investments. As a result, Mexico has been able to attract foreign direct investment, crucial for driving economic growth and stability.
Editor: That brings us to the financial health aspect Sheinbaum discussed during her meeting with Shetty. What is the significance of Mexico maintaining healthy finances, and how does that impact its credit rating?
Dr. Martinez: Healthy finances reflect a responsible fiscal policy and a government’s ability to manage public debt. This is crucial for maintaining or improving credit ratings. A higher credit rating from agencies like Fitch translates to lower borrowing costs for the government and can boost investor confidence, facilitating further economic growth.
Editor: Interesting point! What do you think the next steps are for the Mexican government to sustain this positive trajectory, especially considering the global economic context?
Dr. Martinez: The government needs to continue focusing on sustainable practices, both economically and socially. Investments in infrastructure, promoting innovation, and enhancing education will be critical. Moreover, maintaining dialog with financial institutions and investors will help sustain a favorable economic climate amidst potential global uncertainties.
Editor: how would you gauge the significance of President Sheinbaum’s engagement with international financial institutions like Fitch Ratings?
Dr. Martinez: It’s quite significant. It demonstrates proactive governance, showing that the administration is committed to transparency and dialog with global financial entities. This engagement can enhance Mexico’s standing on the international stage, providing reassurances to both domestic and foreign investors about the economic direction.
Editor: Thank you, Dr. Martinez, for your invaluable insights into the current economic landscape of Mexico. It certainly sounds like an exciting time for the Mexican economy!
Dr. Martinez: Thank you for having me. I look forward to seeing how Mexico navigates these developments.
Editor: That’s all for today’s interview. Stay tuned for more updates and analysis on Time.news!