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The Mexican Ministry of Finance, José Antonio Meade, said in a radio interview, that the government has taken a series of measures to “generate certainty” and to “shield” the Mexican economy in the event that a “surprise” hits the upcoming U.S. Presidential elections.
The 2017 Economic Package “which takes us back to the primary surplus” and Pemex’s Business Plan, among others, are part of the efforts the Mexican government has undertaken for several months to cope with any possible “surprises”.
“We feel confident and we are attentive to the events that may have an impact on our real variables; we count with economical instruments to respond to the situation in terms of what we observe. We cannot tell if the economic volatility will be short or long term, we do not know which post electoral result we will have to deal with… so there is no use in having hasty reactions until we are certain of the scenario in front of us”.
For his part, the Minister of Economy, Ildefonso Guajardo, noted that Mexico has made a commitment to operate in an open market economy, as this renders our country more efficient in the productive economic integration of North America: “Those who think that a public policy of imposing taxes, closing frontiers and isolating an entire economy is a good decision are actually shooting themselves in the foot”.
Guajardo noted that regardless who wins the upcoming U.S. Presidency elections, Mexico will continue to be aligned with its open market and foreign trade policies, additionally he expected that the exchange rate for 2017 will go back to levels between $17 to $18 pesos per dollar.
