| | |  News Around the Republic of Mexico | March 2009 
Responsible Use of Public Expenditure in 2009 Guaranteed
 Presidencia de la República
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| | President swears in new CONCAMIN Board of Directors. | |
Mexico City - President Felipe Calderón declared that government is using all its capacity to support the country's productive sector with deeds and invited industrialists to continue working with a long-term vision to ensure that their efforts help boost the economy's competitiveness.
When he swore in the new Board of Directors of the Confederation of Industrial Chambers (CONCAMIN), presided over by Salomón Presburger Slovick, the President declared:
“Every day, thousands of entrepreneurs like yourselves leave their homes to work in their businesses and factories to support their families, in the process of which they are helping the country to pull through.
President Calderón said that his government will guarantee the responsible use of public spending in 2009, beyond the fluctuations that may occur. He added that the authorities have the means and resources to promote a broad package of contra-cyclical policies that will offset the impact of the international crisis and jumpstart the recovery of the Mexican economy.
“So, in short, friends, we will not only have certainty concerning the use of the 2009 Budget, including the ambitious contra-cyclical program we have launched, but we also have the capacity to stabilize the government's income until 2010," he added.
Accompanied by Secretaries of the Economy and Labor, Gerardo Ruiz Mateos and Javier Lozano Alarcón, President Calderón declared that the most important thing for government is to protect and maintain Mexicans' sources of labor and reported that in two months, the Program for Preserving Employment has prevented over 160,000 workers from being laid off.
He explained that regardless of the size, depth and duration of the international economic crisis, our economy is in a better situation than it was in other severe crises in Mexico, most of which were generated in Mexico itself.
He said that the solidity and capitalization of the banking and financing system gives us scope for maneuver to offset the effects of the crisis and continue stimulating the flow of credit to the productive sector.
“We have solid macroeconomic bases. This is reflected, for example, in the external public debt. During the course of this administration, this has nearly halved. Also worth noting is the stable performance of inflation at the most crucial points in the increase in the prices of raw materials worldwide," he declared.
He acknowledged the fact that all this has been possible due to the fact that in the two years prior to the start of his administration, the country had a zero deficit and to the reforms undertaken during his administration. "If these reforms had not been carried out during these two years, they would have left public finances and the Mexican economy in a more critical, far more vulnerable situation than it is today."
He pointed out that these major reforms, including the Finance and Pensions reforms, "Are enabling us to deal with the international crisis more effectively." |
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