Presidency of Republic of United Mexican S : Commitments in the Agreement to Strengthen the Economy and Protect the Family Economy

The Agreement to Strengthen the Economy and Protect the Family Economy has concrete commitments that will address the concerns raised after the adjustment of gasoline prices.

It responds to the concerns of heads of household that there will be an unjustified increase in the prices of other goods and services, particularly of products in the basic food basket; there are concerns that there will be food shortages or cuts in priority social programs.

'I want to tell the housewife, the head of the household, the shopkeeper, the student, the worker and the small businessman:

For the government, it is a priority to protect your job, your income and your spending. To protect your assets and savings. To protect your stability, your future and that of your children.

Rest assured that we will do everything required to ensure that the gasoline price increase will have the least possible impact on the family economy': EPN

Commitments

The business sector is committed to contributing to avoiding indiscriminate price increases.

The labor and rural sectors pledge to improve the productivity of their sectors.

The government pledges to continue the dialogue with productive sectors and oversight measures to ensure the stability of basic food basket prices.

'If necessary, we will have to authorize the preferential import of commodities, when large increases are detected in their prices': EPN

The government will continue to deliver funds for social programs. And it will support the modernization of public mass transit and urban mobility.

Investment projects will be promoted through the Federal Mass Transit Support Program. The reconversion of public transport units to more efficient and economical fuels will also be encouraged.

The government pledges to continue promoting job-creating investments.

In 2017, new fiscal incentives for investment and processes to simplify paperwork, especially for small and medium enterprises, will begin to operate.

Public resources

To maintain the economic stability constructed over decades, healthy public finances, a sound financial system and the full implementation of structural reforms will be maintained.

• The budget will be spent in an austere manner, to protect social spending.
• The platform for budget transparency and government procurement will also be reinforced.
• In addition to the $190 billion pesos in cuts already made by the Government, other austerity measures will be implemented, including a 10% reduction in the salaries of top federal civil servants.
• The government will reflect the austerity demanded by the times.

Strengths

Unlike previous decades, when it was necessary to correct the instability of our economy, this agreement with the productive sectors is designed to preserve what has been achieved as a nation.

• Today, Mexico has a strong, dynamic, competitive economy.
• So far during this administration, over 2.6 million jobs have been created.
• In 2016, annual inflation of just 3.4% was reported.
• Domestic consumption remains the main engine of the Mexican economy.

Rejection of vandalism

Those who signed the Agreement have pledged to preserve the Rule of Law and strengthen the culture of legality.

'There is no room for personal, political or group interests. Our only interest is Mexico': EPN