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Mexican economy will benefit from Russia-Ukraine war, says President AMLO

Mexican President Andrés Manuel López Obrador said Monday that the war between Russia and Ukraine will boost investment in the country and lead to further growth in Latin America’s second-largest economy.

The coronavirus pandemic and, now, the war in Europe, have affected supply chains, causing many companies that supply the American market to move their production from Asia. Some have settled in Mexico.

Now, with this new economic crisis, a product of the war, Mexico becomes, if not the first, the second or third country with the most opportunities for investment in the world.”, said the president in his usual press conference, citing a “financial report” not specified.

“With Russia (…) there has been a displacement and, fortunately, our country is in the first levels”, added. “This is going to mean more investment, more growth, more employment.”

The Mexican economy grew 5% in 2021 and this year it is expected to expand at a slower rate: between 2.5% and 2.6% due to the effects of the pandemic. Analysts and entities such as the International Monetary Fund (IMF) have been reducing the expectation of expansion for the Mexican economy.

Source: Gestion


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