There is no way to accommodate the data to justify economic management during this administration.
If the comparison is in annual terms, of the 12 quarters that this administration has been in, we have eight with negative results, one with growth due to inheritance from the past and only three quarters of rebound after the worst recession in 90 years.
And if the comparison is made against the previous quarter, we see that the recovery after the Covid-19 pandemic crisis ended in the summer of last year.
The poor economic condition due to the pandemic is global, but our country reached that crisis in recession and has not had the ability to find the momentum to get out of it.
Before the first measure was taken to contain the wave of SARS-CoV-2 infections in Mexico, back in March 2020, Mexico’s Gross Domestic Product (GDP) had already accumulated four consecutive quarters with setbacks. This country fell, while the world grew. There’s the data.
But before the global disease arrived in Mexico, another virus that is present there and that does not seem to have the intention of being eradicated was already planted here: mistrust.
Since October 2018, when Enrique Peña Nieto disappeared from the map and the de facto government of López Obrador began, the 4T made its first decision that would lay the foundations for a battered relationship between the new government and investors.
The cancellation of the construction of the Texcoco Airport was the confirmation of the beginning of an autocracy that would mark all the parameters to be followed. Then would come the arbitrary cancellation of the Constellation Brands brewery in Mexicali and the ongoing energy counter-reform as confirmation of the anti-business path.
And just as those eight falls in 12 quarters of this government are hard data, the Gross Fixed Investment indicator is also a cold number that tells us that, in this country, since October 2018 there has been a constant fall in capital willing to invest in Mexico.
The poor performance of the tertiary sector of the economy is another hard, official fact, which shows how the main economic activity in this country does not pick up. To a large extent due to the abandonment to their fate of millions of economic agents who were left to their fate in the midst of the economic crisis due to the confinement of the pandemic.
Public finances left room for the attention of many affected by the crisis, but it was a priority for this administration to direct the available resources to assistance programs and infrastructure works that have not left any benefit and will hardly do so in the years to come. .
What the official statistical data shows is that the Mexican economy has been in recession for most of the six-year period, that the economic recovery was interrupted very quickly to return to negative numbers. That investment has been stagnant for more than three years and that the tertiary sector of the economy is stunned.