The government, in coordination with state and municipal governments, signed the Agreement for the Strengthening of the Economy and Protection of the Family Economy," based on four guiding principles. It will be the roadmap that will maintain and expand the strength of the country’s domestic market.
- Improve Mexicans’ family economy.
- Promote investment projects scheduled for 2017 and 2018.
- Encourage new investments.
- Maintain job creation, economic growth and competitiveness.
I. Protect the family economy
Avoid unjustified increases in basic food product prices.
Through its organizations, the business sector is committed to preventing indiscriminate increases in goods and service prices, preventing unjustified consequences or speculation, particularly in the case of products that are part of the basic food basket.
The labor sector is committed to intensifying productivity processes that will increase competitiveness.
The rural sector is committed to working on improving the productivity of the countryside for the benefit of small and medium producers and the national food supply.
The government sector pledges to promote actions that will maintain the stability of the prices of basic goods, and monitor and sanction any abuse in the terms of the law.
It will modernize public transport and facilitate urban mobility.
It will improve credit conditions through the Development Bank.
It will undertake measures to promote the inclusion of vulnerable groups in the labor force.
The Federal Government pledges to conduct an information and facilitation campaign to provide resources for adults over 65 who are entitled to these funds and have not received them.
The production sectors have also pledged to continue promoting the recovery of the purchasing power of the minimum wage.
Actions will be reinforced to promote free competition.
ii. Encourage investments and employment
It was agreed to promote investment projects scheduled for 2017 and 2018, and encourage new investment, and to maintain job creation, economic growth and competitiveness.
The business, labor and rural sectors are committed to promoting productivity as a means of promoting growth, development, competitiveness and improving the income of the country’s workers.
The Federal Government will promote investment and employment by through the Development Bank, the National Fund for Infrastructure and Public Private Partnerships.
New incentives and simplification processes will be created to allow more investment, particularly for small and medium businesses.
III. Preserve economic stability
Reinforce the ongoing effort to preserve economic stability that the Federal Government has made in recent years through a balance of fiscal policy, monetary policy, the financial system and structural reforms that will complement measures to achieve transparency and fight corruption.
A decree will be formalized to encourage the repatriation of capital held abroad.
Structural reforms will be implemented to increase competition and invest in key sectors of the economy.
Ensure a growing primary surplus, thereby reducing the Federal Government’s debt.
The government will spend the budget in a clear, transparent and austere manner, protecting social spending at all times.
The budget transparency platform will be promoted, including information on government procurement.
In addition to the adjustments approved by the Legislative Branch, the government will establish other austerity measures, such as reducing the salaries of top public servants in federal agencies by 10%, which will not affect social programs .
IV. Preserve and strengthen the culture of legality and the rule of law
The other branches of the Federation, Autonomous Bodies and Local Governments have also been urged to adopt similar measures.
The signatories reject any illegal means of expressing disagreement and disapprove of violence, robbery and vandalism under the guise of protesting and affecting the rights of others.
Follow-up and Evaluation:
The agreements and their impact, will be monitored by the National Productivity Committee, with the participation of representatives of the government, employers, workers, rural producers and academia.