The Center for Economic Studies of the Private Sector (CEESP) confirms that the business promoted by the government of Andrés Manuel López Obrador is the main driver of Mexico’s GDP growth in 2023.
“The development of the economy has been much better than expected by the vast majority of analysts and international organizations, including this center,” admits the organization run by Carlos Hurtado Lopez.
He adds that Mexico’s better economic prospects are the result of the much better performance of the US economy, the mathematical effects of comparisons with lower numbers in 2022 and forecast errors by economists at banks and brokerage firms.
“Growth forecasts for 2023 have been significantly corrected. At the end of 2022, the estimated progress was less than 1%, and now 3% growth is expected. Even the Bank of Mexico recently corrected its forecast from 2.3 to 3.0%, explains the advisory body Economic Coordination Council (CCE).
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The report shows that the main source of progress in GDP in the second quarter of the year came from a 0.7% growth in tertiary activities, while secondary activities achieved a 1.2% increase.
“Within it, the impact of construction stands out, which increased by 6.5% and contributed 42.2% to overall GDP growth,” explains the Center for Private Sector Research.
“This undoubtedly reflects the strong momentum of civil engineering works related to the government’s flagship investment projects. Therefore, this does not mean a recovery in investment in general.”
During the fifth government report, President Andrés Manuel López Obrador boasted of infrastructure works begun during his administration and others that came after Enrique Peña Nieto’s six-year term, such as the Mexico-Toluca train.
“We are about to complete free roads with a total length of 1,044 kilometers,” the President commented on Friday, September 1, 2023.
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He pointed out that since last year, the Felipe Angeles International Airport (AIFA) has been opened and the Chetumal and Tuxtla Gutierrez area stations are being rehabilitated; In addition to the permanent maintenance of Benito Juarez International Airport in Mexico City.
“We are building the new international airport in Tulum, Quintana Roo, which will be named after Felipe Carrillo Puerto, and we are about to start operating this beautiful airport by the end of this year. We will also inaugurate the Mayan Train in December,” Lopez Obrador said. You already know, there are 20 stations and 14 stations.”
He added that it is a matter of pride to be able to say that passenger trains will return, “because these are the trains in addition to the trains from Jalisco, and here is your governor, the new train from Nuevo León; Governor Alfredo del Mazo is here, and we will also inaugurate the train, the first stage of the Toluca-Mexico City train.
The president explained that the six Pemex refineries received maintenance work with an investment of 70 billion pesos, which is why they increased their production from 38 to 60 percent of their capacity.
He said the Deer Park refinery purchased in Houston has already been paid for and is processing 340,000 barrels per day.
“Today the new Dos Bocas refinery will start producing petroleum products, and today it starts producing, that’s right, isn’t it, Rocio? By the end of the year, it will produce an average of 290,000 barrels of gasoline per day,” Lopez Obrador said.
He added that the coking plant will also be completed at the Tula Refinery in December and the Salina Cruz Refinery in July next year.