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Weekly Report - 6 February 2020 (WR-20-05)

MEXICO: López Obrador extols alternative to growth

“There may be no growth but there is development and wellbeing.” This was the response Mexico’s President Andrés Manuel López Obrador gave to the news that the economy contracted by 0.1% in 2019, according to figures released by the national statistics institute (Inegi) last week. López Obrador said his government had “other data”. The parameters for measuring if there is wellbeing in Mexico, for instance, are changing, he said. So too, it appears, are the government’s parameters for measuring growth. López Obrador came to power in December 2018 promising to deliver annual GDP growth of 4% during his six-year term. With this now no more than a pipe dream, striking on alternative measurements to gauge the success of his government is essential for López Obrador.

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