LatinNews Daily - 16 January 2020

In brief: Mexico’s CCE calls for major increase in investment

* Mexican business sector lobby group, the Consejo Coordinador Empresarial (CCE), has called on the local public and private sectors to invest at least 25% of GDP in the country this year to lift Mexico’s economy out of its current state of stagnation. Mexico’s economy fell into technical recession last year after registering negative growth in the first and second quarters while growth in the third quarter was 0%. This sparked concerns about a prolonged period of recession amid lower levels of investment under the government led by President Andrés Manuel López Obrador. To revert this, the CCE has called for a substantial increase in investment levels this year, noting that in 2019 private sector investment barely reached 18% of GDP while public sector investment was just 2.9% of GDP. “If we don’t invest at least 25% of GDP there will be no growth,” CCE president, Carlos Salazar Lomelín, said before asking the government to offer “a message of certainty” to encourage private investors.