Sunday, February 25, 2024

Mexico’s economy will grow 2% in 2024, double that of the United States: Concamin

José Antonio Abugaber Andione, president of the Confederation of Industrial Chambers (Concamin), emphasized that according to estimates, the Mexican economy will grow by 2% in 2024, double what the United States will advance.

“The United States is likely to grow by 1% next year, while in Mexico it is expected to grow by 2%,” said the industrial leader.

He added that the election issue has his union “a little worried,” especially what could happen to the United States if Donald Trump wins the Presidency.

“As you know, Donald Trump is acting against Mexico, which worries us,” he said.

Abugaber Andione said that now at least there is progress in the country, the level of exports and employment has increased, and inflation has decreased: “the indices are very good.”

“I want to be positive and the numbers are good for next year, unlike this year. The industry will continue to grow, it may be less than in 2023, but it seems that there will be growth,” he said.

Don’t forget: Mexico’s economy will grow up to 3.7% in 2024: Banxico

The business leader considers that this is not the time to approve the reduction of working hours, as sought by the Chamber of Deputies, because it will destroy economic growth and the arrival of investment attracted to the nearby coast in Mexico.

“We must know that if we change the working time it can affect more and it affects the workers,” the industrialist declared at the end of Concamin’s vision presentation in a comprehensive industrial-digital policy in the framework. in the 21st century.

“The process of economic development and nearshoring can destroy it and we want people to work hard and, as a businessman said, to earn more,” he said, referring to the statements of Carlos Slim last week.

Read: ‘It’s better to work more and earn more,’ says Carlos Slim about reducing the working day

“I don’t think this is the time (to reduce the working day) and I have faith that the Legislature will analyze it carefully, for the benefit of Mexico,” commented Abugaber Andione, who added the issue of the lack of work in some cities in the country is complicated.

The leader of Comcamin pointed out that according to some analyzes of the digital development of industries around the world, Mexico should further strengthen this area with optimal technological development.

He added that recovering the culture of innovation in the industry is important, because it is time to change the paradigms and continue a collective effort.

“Countries with strong productive bases follow a digital industrial policy that entrusts their sectors, from the State to the productive areas, through modern and competitive strategies,” he pointed out.

“Mexico has the opportunity to launch this industrial policy in a context of geopolitical rearrangements that promote the accelerated relocation of global manufacturing, strengthening the strategic position of our country and its large network of trade agreements,” he declared.

“The institutions involved in this proposal seek to contribute to the debate on best practices in industrial-digital practical matters, especially for the economic and social development of this first half of the century.”

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