The economist said that incentives should be given to the Mexican countryside so that it produces foods in which it is more competitive and stops producing those that are only competitive due to tariffs.
The elimination of the tariffs, said Serrano, will have a marginal impact on inflation since it comes from external factors.
The deputy governor of the Bank of Mexico, Gerardo Esquivel, said that this Package against inflation and famine (PACIC) presented by the federal government is not going to be the solution.
BBVA said that another reason why inflation will not see a drop in inflation is thanks to the conflict between Russia and Ukraine, because the region is a major producer of grains.
Mexico, a wasted opportunity to gain Chinese ground
BBVA Mexico also highlighted that in order to be competitive and gain ground against China, in terms of nearshoringthe federal government must provide legal certainty and invest in infrastructure such as highways and seaports.
Mexican exports occur mainly by land and it is profitable for the Bajío, but in the case of the southern zone, it is not possible to do it this way.
Serrano proposes investment in port infrastructure for the creation of a corridor from the port of Progreso to Florida or from Coatzacoalcos to Alabama. The economist highlighted that one of the reasons why the southern and southeastern areas of the country have not benefited from exports is that they were not contemplated in NAFTA, in the export corridors.
“Conditions need to be created that facilitate export logistics from the south and southeast, and for this to happen, export infrastructure must be improved,” he said.
On the legal certainty side, Serrano pointed out that the government must strengthen the rule of law, respect contracts and not change the regulatory framework once the investments are made.
