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  HOME | Mexico

Leftist Candidate Promises Mexico 4% Annual Economic Growth If He Wins

MEXICO CITY – Leftist presidential candidate Andres Manuel Lopez Obrador, who is leading in the polls, said on Monday that Mexico’s economy will grow by 4 percent annually if he wins the elections, after 30 years of absolute failure of neoliberal policies.

“We’ll make sure there is growth, and instead of 2 percent it will be doubled to 4 percent, which is what we are planning. And that will mean better jobs and wages,” the leader of the National Regeneration Movement (Morena) said at an event of Kybernus, the social values program of the Salinas Group.

In the speech “Recover your future, a proposal by young people for Mexico,” Lopez Obrador repeated once more that the country has to find a plan similar to the so-called period of “stabilizing development” between 1954-1970, when the Latin American nation grew by 7 percent annually.

However, that plan has been sharply criticized by business leaders, who consider it a protectionist formula.

The current economic model “has resulted in absolute failure, because it hasn’t worked” either at the economic or the development level, the leftist said.

During that speech, in which young people in different states took part through questions on video, Lopez Obrador defined himself as a “liberal with a social dimension.”

About energy reform, a field that was opened to the private sector in 2013 after almost 80 years of state monopoly, he said he would not “not expropriate nor confiscate assets,” but he would review the contracts awarded up to now to foreign companies.

He stated once again that some business owners and executives are “influence peddlers” who fight to maintain their privileges and even to steal.

But he did say that most employers have “a civic and social side.”

He announced that he would lower the prices of basic materials like oil and electricity, and called once more for food self-sufficiency, all of that in order to make Mexico an “economic powerhouse.”

On July 1, 89 million citizens are eligible to vote for the next president of Mexico, along with members of Congress, eight governors and the mayor of Mexico City, among some 3,400 government positions.

 

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