Mexico City. Remittances continue to rise compared to last year, which in itself marked a record. In February 2024 they entered Mexico four 1,510 million dollars in family transfers, an increase of 3.75 percent compared to what was registered in the same period of 2023, when these resources ended with an unprecedented balance.
In the accumulated period from January to February – the preamble to the electoral processes in Mexico and part of the primaries in the United States – there is also no annual reduction in these inflows of resources to the Mexican economy. Remittances reached nine 1,84 million dollars, an increase of 3.44 percent compared to what was recorded last year.
The Mexican government estimates that a significant amount of remittances will still be received in 2024, but that they will be reduced compared to last year – when they rose to 63,320 million dollars –, derived of the exhaustion of supports Covid in the United States and a less dynamic labor market in the neighboring economy.
“A significant flow of remittances from abroad is estimated, although at a more moderate pace, mainly due to the exhaustion of government support in the United States, the smaller excess of private savings and a less dynamic labor market than that observed in 2023, the year in which “They registered low unemployment rates and high salaries for Mexican workers and workers of Mexican origin in the United States,” the agency explains in Pre-Criteria 2025. This year there are elections in the United States.
The comparison between 2024 and 2016 – when the flow of remittances increased 8.88 percent, after having grown 3.99 a year before – is that anti-migrant discourse dominates the US elections. Eight years ago, that same narrative caused transfers from compatriots to their families in Mexico to skyrocket.
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– 2024-04-09 04:32:14
