03-2020 Latin American Economy & Business Report
Economy & Business Report
Coronavirus poses risks to Mexico’s economy
In the space of one week, Mexico’s President Andrés Manuel López Obrador has seen two figures published exposing his government’s failure to deliver on his most ambitious promises. The damning figures pertain to public security and oil. They reveal that not only that his government has failed to reduce homicides and to increase crude production by the state-run oil company Pemex, but the reverse has occurred in both cases: homicides reached a record high in 2019 and crude production fell. López Obrador insists that his government is moving in the right direction and that the progress promised during his first year in office will instead be delivered in his second. His popularity remains high for now but the public might not be so forgiving if the same lack of progress is in evidence this time next year.
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