The year that is about to end was very difficult economically and the situation will continue to be difficult in 2021, so it is key to boost investment to reactivate growth , said the BBVA Mexico Group
In a virtual meeting with the media to mark the end of the year, Jaime Serra, Chairman of the Board of Directors, and Eduardo Osuna , CEO and Vice Chairman of the Board of Directors of the financial group, agreed that this year was more than complicated.
For Osuna Osuna, 2020 can be considered a “year to be forgotten”, but at the same time it left many lessons, and the main one is to be prepared with contingency plans, and in the case of Mexico, the challenge is how to take advantage of the T -MEC and global issues.
Serra Puche pointed out that no matter how optimistic one may be, next year will be complicated, since the crisis is different, “it is more a crisis of confidence “, so that to activate the economy requires “investment, investment and investment.”
“The type of crisis we are facing is very different from those of the past, where practically all of them came from a fiscal and financial imbalance that resulted in depreciation or inflation. Now it is more of a crisis of confidence and what happens is that the results and the application of the economic policy instruments are different from those that we have traditionally been using ”.
He indicated that the great challenge going forward is to promote “fundamentally private investment, which has fallen very significantly and should be one of the most important components of aggregate demand , which drives the growth of the economy,” said Serra Puche.