Mirage Energy Corp (MRGE)

[Juancy]

That is great, Macod!

Translated:

https://translate.google.com/translate?hl=en&sl=auto&tl=en&u=https%3A%2F%2Fmarcomares.com.mx%2Fnacional%2Famlo-e-ip-pactan-tercer-paquete-de-proyectos-de-infraestructura%2F

AMLO and IP agree on third package of infrastructure projects

López Obrador and the businessmen held a meeting that, they said, was "friendly and harmonious."

President Andrés Manuel López Obrador (AMLO) and the country's business community agreed on the third package of infrastructure projects with which it is intended to revive investment, which has been depressed for more than a year.

López Obrador commented on the package of infrastructure projects after holding a meeting with representatives of the private initiative, this a few days after the midterm elections and a day after announcing important changes in the Ministry of Finance and the Bank of Mexico.

The president assured that the meeting was friendly, anticipating that the new package of projects will be presented soon at the National Palace.

"The desire was reaffirmed, the will to work together, to promote private investment [...] That third package of infrastructure projects is going to be announced soon in the National Palace, we have already reached that agreement," he told reporters after the meeting.

Antonio del Valle Perochena, president of the Mexican Business Council (CMN), was also optimistic after the meeting, reiterating the friendly tone of the meeting and advocating a boost to investment as a percentage of Gross Domestic Product (GDP).

"We have to ensure that investment, which today is around 18% of GDP, goes above 20%, including 22%, 23% or 24% of GDP," he said.

The relationship between AMLO and the IP has been mixed, even becoming quite tense. However, both parties talk frequently and have implemented initiatives that aim to improve the country's economic conditions, such as infrastructure project packages.

The first package was presented in November 2019 and the second in the same month of 2020. There were plans to announce the third in March 2021.

The purpose of these packages is to reactivate investment with impulses from both the public and private sectors. Investment was one of the indicators most affected by the pandemic, and it is among the ones that have required the longest time to recover . Capital flows with less confidence because economic conditions are not optimal yet, but also because of some of the policies promoted by the AMLO government, which are perceived by the IP as unfriendly to the private sector.

Analysts agree that the Mexican economy is heading towards an economic recovery this year. The forecasts improve with the more accelerated deployment of vaccines and the greater reopening of activities, as well as with the advances of the export sector and the rebounds in the US economy. But there are still doubts about how strong the recovery will be and how long it will take for GDP and the rest of Mexico's indicators to return to pre-pandemic levels.

$MRGE