The Secretary of the Treasury, Édgar Amador Zamora, said that the Mexican economy is solid, with macroeconomic stability and with healthy public finances, which gives it a basis to face the challenges of the complex international environment.
According to the official, in the first quarter, the economy presented a moderate dynamism, which was caused by transient exogenous factors and an expected deceleration in previously expansive sectors.
The economy advanced 0.2% in the first quarter with respect to the previous period, according to the preliminary figures of the INEGI.
“This performance, although moderate, is consistent with an orderly adjustment and is far from a generalized contraction, confirming that the Mexican economy is still expanding,” he said in the 88 Banking Convention in Nuevo Nayarit.
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He said that the labor market at the close of the first quarter maintained a solid rhythm in the service provision sector.
He indicated that the unemployment rate averaged 2.55 in the quarter, accumulating 29 consecutive months below 3%, which described as a record since 2005.
“I want to emphasize that the unemployment rate registered a historical minimum of 2.2% in the month of March, which combined with the increase that continued showing the real salary to rates higher than its historical average, evidences the dynamism of private consumption,” he said.
He said that international confidence in Mexico was reflected in direct foreign investment flows: “For 2024, 36,872 million dollars were captured, which represented an increase of 2.3% compared to the previous year and constituted a new record level.”
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He added that the economy has managed to contain inflationary pressures.
“During the first quarter, this index returned to the target interval of Banco de México, after 46 consecutive months above 4%. Inflation of services, in particular, moderated its rhythm at levels not seen since mid -2020,” he said.
He added that the Government of Claudia Sheinbaum maintains a policy of discipline and responsibility.
He said that the external debt management strategy has improved conditions and diversified financing sources.
“The placement of new bonds for 8.5 billion dollars in January 2025, with the participation of 380 investors from different regions,” he said.
He announced that to the cut of May 2, the international reserves of Banxico reached the figure of 239,319 million dollars.
“I want to emphasize that these economic and fiscal results continue to support the credit qualification of Mexico, where our country retains its investment grade with the eight qualifying agencies, with stable perspectives in most of them,” he concluded.
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