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President Andrés Manuel López Obrador in conference at the National Palace. Photo: Notimex
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MEXICO CITY
President Andrés Manuel López Obrador considered that it is possible to have parameters to measure economic development other than the Gross Domestic Product (GDP) or the growth estimates generated by the National Institute of Geography (INEGI).
That institute released the final reading of the GDP of 2019, leaving a 0.1 percent decrease compared to 2018.
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It was also determined that the last quarter of 2019, despite the fact that the economy traditionally has a rebound due to year-end purchases, there was a 0.0 growth and there was a decrease in the primary and secondary economic sectors.
“It is not easy after 36 years of economic model, which failed, measure in another way, take welfare into account, take development into account,” said the Executive head.
López Obrador acknowledged that he is more interested in measuring parameters such as well-being, the access of people with lower resources to basic satisfactors, than measuring the growth of macroeconomics.
“It was expected, but they are changing the parameters to measure if we have well-being in Mexico, in our society and as I have other data I can tell you that there is well-being, it may be that there is no growth, but there is development and there is well-being, which is different ”, Considered López Obrador.
#PIB Timely estimates that during the last quarter of 2019 the Gross Domestic Product of #Mexico did not show quarterly variation and fell (-) 0.3% y / y vs 2018-T4; With this, GDP would have decreased (-) 0.1% for the whole year 2019. pic.twitter.com/pckby4OaRq
– Julio A. Santaella (@SantaellaJulio) January 30, 2020
He insisted that during the neoliberal period indicators such as GDP were given too much importance, however, they reflected economic growth, but not the unequal distribution of wealth.
“And I do not care much, because, I repeat, growing can mean that there is more money in a few hands, in the neoliberal period there was not even growth, but what grew was accumulated in a few hands,” said López Obrador.
Despite the data released by INEGI, the president insisted that poor people have resources available to eat better.
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