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Increase in wages and tax collection improved the economy

Victor Ballinas, Alonso Urrutia and Emir Olivares

Newspaper La Jornada
Monday, November 28, 2022, p. 10

When speaking about his economic policy, President Andrés Manuel López Obrador affirmed that in a few more days the increase in the minimum wage for 2023 will be announced. I want it to be agreed unanimously between the labor, business and government sectors. And I also want it to be around 20 percent, because that way we would reach the end of our government with an increase of 100 percent in real terms throughout the national territory..

He stressed that he went from 88 pesos when we got to government, at 172, an increase of 62 percent in real terms. And at the border it has more than doubled, something never seen in the last 40 years..

The head of the Executive pointed out that the economy is already growing again. This year it will increase 3.5 percent and the same percentage for at least 2023 and 2024. Banco de México’s reserves rose 14 percent and the Stock Market index has grown 24 percent.”

Regarding the workers, he pointed out that 21 million 722 thousand 857 are enrolled in Social Security, a figure never reached, with an average monthly salary of 14 thousand 712 pesos. Despite the pandemic, in four years 1,264,931 new jobs have been created.

He mentioned that despite the pandemic “we have not contracted new or additional debt and that the formula of banishing corruption and ending luxuries and waste in government works. Collecting taxes, without increasing them only to large companies and banks, which never paid, we have strengthened the public treasury with an additional 1,890,000,000,000 pesos..

He explained that this year, despite inflation of 8.1 percent and the gasoline and diesel subsidy for 338 billion pesos, “the income of the federal government, for not allowing tax privileges by no longer forgiving taxes, they have increased by 460 billion pesos, or 3.7 percent in real terms in relation to the same period last year.

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