Elizondo stressed that a current is emerging that seeks to recover economic sovereignty, but that this trend goes against the economy.
“The economic closure is a bad idea because it prevents resources from being assigned in the best way,” he said in his participation.
He added that Mexico faces three problems that are: a weak growth of the economy, an incomplete control of inflation and the threats facing the United States,
On the first point, Elizondo hopes that “hopefully” GDP does not reach a zero growth rate.
On inflation, the economist criticized that Banxico has prematurely started the cuts to the reference rate even when there were no clear signs that inflation was slowing down.
“It is obvious that they will continue to cut it,” he said. “The initial decision to lower the interest rate seemed premature. And well, the reason is that we are far from the goal.”
In his opinion, one of the evidence that the market is not receiving a restrictive position by the Central Bank has to do with the placement of credit and that with data to November in 2024 the consumer credit has had a growth of 12.8 % and companies 8.4%, rates well above what GDP grows.
