MEXICO CITY — Mexico’s President Andrés Manuel López Obrador, aka AMLO, presented his economic plan to face the coronavirus pandemic. He says the plan focuses on helping the poor while avoiding the flaws of neoliberal capitalism, but workers and business groups are concerned.
The plan extends government credits to the working class. Gas prices and tax rates will remain fixed. And high ranking officials’ salaries and Christmas bonuses will be cut.
López Obrador also informed that his government will keep building its signature projects: an oil refinery in the state of Tabasco, a tourist train in the Mexican southeast and an airport in a military base near Mexico City.
But the president said his government will not increase public debt nor forgive taxes.
“We will not open the door to the corrupt,” AMLO said.
But business groups say the plan will trigger a recession, arguing that without stimulus packages, investment will drop and businesses will have to let people go or shut down.
Workers groups are concerned with an increase in unemployment and poverty. Organized waiters protested outside the president’s office.
“The success of our plan will set an example for the world,” the president stated.
The Mazatlan Post