Mexico falls into recession

During the first half of 2019, Mexico has contracted its economy whose GDP had not grown at all from January to September and has subsequently advanced by 0.01%. The figures were corroborated by the National Institute of Statistics and Geography (INEGI). This last fall is recorded as the third consecutive since the last period of 2018.

According to the economist Valeria Moy, general director of the Mexico ¿Cómo Vamos? analysis center, she said that the main reasons for this crisis have only one apparent reason and are the actions carried out in recent years. «That an emerging economy with a population that is increasing grows to 0% when there is no international or internal crisis, speaks of stagnation at home»,  she said for a Spanish media.

Apparently, this affects the entire region. However, it is the internal policies of each country that could be defining the situation. And it is that according to the IMF (International Monetary Fund) has reduced in October the annual projection to 0.4%, On the other hand, together with the Economic Commission for Latin America and The Caribbean expects to grow 1.2%; However, the picture is still too optimistic about the situation.

Due to this type of crisis, people usually rely on their credit cards. According to the National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF), there are some actions to avoid in the use of plastics to protect the income that people given the crisis in which they are plunged.

1. Pay the minimum amount
2. Buy food.
3. Pay other debts.
4. Have cash in plastic.
5. Spend more than you earn.

Share via
Copy link
Powered by Social Snap