LatinNews Regional Monitor: Mexico - 04 May 2020

* A local think-tank, Instituto para el Desarrollo Industrial y Crecimiento Económico (Idic), has warned that the economic fallout of the coronavirus (Covid-19) pandemic will produce a significant increase in the number of poor in Mexico. According to Idic, between 3m and 3.5m people could fall into poverty due to job losses and the disappearance of businesses this year, as a result of the containment measures implemented by the government to try to stop the spread of Covid-19. The Idic calculates that as many as 1.7m job jobs will be lost (900,000 formal jobs) before the public health emergency is over and said that this would impact household incomes. It added that the effects of this will become clear when the national statistics institute (Inegi) releases its updated national household income and spending survey later this year. The survey data (released every two years) found that there were 52.4m people living in poverty in Mexico in 2018.

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