Has Mexico Gotten Through the Worst of Its Recession?
Financial Services Partner Adrián Gay Lasa was interviewed for an article in Latin America Advisor, a publication of The Dialogue, discussing the current state of Mexico's economy and its prospects for the future. According to national statistics agency INEGI, Mexico's economy grew 12 percent in the third quarter, a remarkable recovery after a 17.1 percent decline in the second quarter. Mr. Gay Lasa answered questions about why this sudden growth took place, how the Mexican government has handled the economic fallout during the pandemic and what should be done to maintain growth. He noted that tax incentives for economic reactivation and stronger support for smaller businesses will be key to maintaining growth, especially if a second wave of the pandemic hits.
"To maintain growth, Mexico needs to implement relevant tax incentive plans and support local businesses and the tourism industry," he said. "However, this will be a challenge if a second wave of the pandemic occurs in the following months. Policies to avoid human interactions by limiting public spaces have been well implemented and are expected to continue."