President Claudia Sheinbaum asked commercial banking to give more credits, since Mexico is at the lowest granting levels worldwide.
“The profits of commercial banking have grown and there is a high profitability in multiple banking in Mexico, but we do have a problem and it is access to the credit of Mexicans,” he said at the 88 Banking Convention.
“If we compare ourselves with Japan, with the United States, with South Korea, with France, with Chile, to have a similar economy, or with Brazil, or with Germany, Italy, Turkey, Peru, Colombia, access to the credit of Mexicans only reaches 33 percent,” said the president.
He said that the objective of the government and banking has to be greater access to credit: “If we want there to be not only growth, but fundamentally well -being for Mexicans.”
He said that Mexico is the second country with the lowest total credit to the non -financial sector and companies, which is in third place with less credit to households and that it is located in the twelfth position with less credit to the non -private sector.
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“We cannot talk about prosperity in the country, if prosperity is not shared,” he said.
“Today the economy is watering from below with the increase to the minimum wage, with well -being programs, and that has allowed the economy to flourish. We not only call it shared prosperity, but it has been shown that in effect, for the good of all, first the poor,” he added.
The president explained that the economy and the financial sector have reacted in an extraordinary way in the face of the international situation of recent months.
He affirmed that the welfare of Mexico is increasingly better, since poverty, inequality has decreased and there is an increase in the standard of living of the population.
“It is perhaps the first time that the United States economy has a reduction in the gross domestic product, while Mexico’s economy has a growth in the first quarter of 2025,” he said.
He added that international reserves are at a historical level and that from January to April the collection grew 9.9 percent compared to the same period of 2024.
He said he presented a responsible budget and with a deficit goal of 3.9 percent, which “we are going to meet” and will be far from 5.4 percent of 2024.
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“We are talking about (which will be) 700 billion less public budget pesos, the investment is still growing and there is good conditions in the public budget,” he said.
He said that economic stability is present with the reduction of interest rates, and that inflation is controlled thanks to the Bank of Mexico and that the exchange rate is below 20 pesos per dollar.
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