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LatinNews Daily - 15 September 2021

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In brief: Mexico’s finance minister defends recovery

* Mexico’s finance minister, Rogelio Ramírez de la O, has assured that the country “is in a firm process of economic recovery” from the crisis caused by the coronavirus (Covid-19) pandemic, noting that this recovery is observable “in various productive sectors”. Ramírez de la O made his comments during a senate discussion of the third state-of-the-nation report (Informe) presented by President Andrés Manuel López Obrador earlier this month. Among other things, Ramírez de la O repeated his expectation that Mexico’s economy will have returned to pre-pandemic levels by the early months of 2022, thanks to the government’s budget, the global economic recovery, and higher investment and consumer spending. Ramírez de la O noted that the labour market has recovered from the pandemic, with 100% of the jobs lost due to Covid-19 having been recovered and a total 13.6m jobs created between April 2020 and July 2021. The finance minister recognised, however, that there is still some space for recovery in the business sector: 1m businesses closed since the start of the pandemic, a loss that was only partially compensated by the creation of 620,000 new businesses over this period.