Steep drop in remmitances will hurt the state of Durango

“The economy of the rural communities will take a serious hit”, stated Oscar García Barrón, president of Durango’s State Livestock Union, who pointed out that the problem is the drop in remittances. In the first two months of 2020 decrease was observed in comparison to the month of December 2019, a decrease that will be even greater considering the loss of jobs in the United States and other parts of the world.

He said that according to the figures released by Banco de México, 3 billion dollars entered the country in the month of December 2019, against 2.5 billion reported in January 2020, while for February the figure went up to 2.6 billion USD.

The president of the State Livestock Union of the Social Sector said that most of the families in rural areas depend on remittances sent by relatives who work in the United States of America.

He said that the situation is very complicated if it is considered that there are no sales of livestock and the few that the intermediaries or gatherers have are buying well below the real price, in addition to the lack of economic support from the state and federal governments.

“Everyone is concerned about exerting resources to micro, small and medium-sized companies, mainly trade, which is good, however food producers are forgetting the most important sector, without them, merchants will not have anything to sell, and industrialists will not have raw material to transform, concluded García Barrón, who is a former federal legislator.

Source: OEM

The Mazatlan Post