on Track: Cordero Arroyo
Friday, March 19, 2010 | Press Release
Mexico City. The
favorable results registered by the Mexican economy show
that its recovery is on track, declared Finance Secretary
Ernesto Cordero Arroyo, who said that this is borne out
by the fact that private sector analysts have suggested
that Mexico's GDP may grow by over 5%. In a joint media
statement with Secretaries of Labor, Javier Lozano Alarcón;
and the Economy, Gerardo Ruiz Mateos and Daniel Karam
Toumeh, Director General of IMSS.
Cordero Arroyo also reported that
the balance of international reserves on March 12, 2010
was $94.8 billion USD, $9.5 billion USD higher than the
figure recorded on December 31, 2008.
He added that at the close of March
18, Mexico's country risk was 2.9 percentage points lower
than in 2009.
“The Mexican Economy is obviously
on the path to economic recovery. Growth estimates are
being continuously revised upwards by national and international
analysts in both government and the private sector,"
For his part, Secretary Javier
Lozano highlighted the evolution of employment. During
the first half of March, the number of new workers affiliated
to the Mexican Social Security Institute reached 69,781.
This means that 234,255 new jobs were created between
January 1 and March 15.
It is also important to note that
this figure of 234,255 net new jobs created in the formal
economy means that all the net jobs lost in 2009, totaling
181,271, have been recovered. It also recovers the net
number of jobs lost in 2008, totaling 37,535," he
He added that on March 15 the number
of both permanent and temporary workers affiliated to
the IMSS totaled 14,115,536.
Lastly, Secretary Gerardo Ruiz
reported that in order to boost firms’ productivity
and competitiveness, by the end of 2009, over 77 billion
pesos in financing were provided for PyMES, benefitting
85,000 firms that employ over 1,200,000 persons.
“Our aim is to promote underlying
changes in our country's productive structure, to construct
a more competitive economy, capable of continuing the
investment we need and creating the jobs all Mexicans
require," he said.