President Enrique Peña Nieto led the 24th
Plenary Meeting of the Banamex Board of Directors. Over nearly
132 years, Banamex has been a witness to and a major player in Mexico’s growth
and economic development.
“In order to take Mexico into new horizons -and tear down the barriers
that prevented its development- from the start of this administration, we have
undertaken a number of substantive changes. This context
includes 13 structural reforms in several areas.”
Reforms contribute to the smooth running of the
economy, as borne out by the following 10 facts:
1. In 2015, the Gross Domestic Product (GDP) increased
by 2.5%; this rate exceeds the performance of some of the largest economies
such as the United States, which grew by 2.4%, the UK, which increased by 2.2%
and Brazil, which decreased by 3.8%.
2. In the first 3 years of the current administration,
accumulated economic growth stood at 6.3%; higher than the -0.3% accumulated
during the same period in the last administration, and the 0.9% of the previous
3. During these three years, 1,892,000 formal jobs
have been created, the highest figure for the same period of any
4. Real wages are increasing: In January
2016, contractual wages grew 1.5% annually in real terms. This is the highest figure in the past 20 years.
5. Energy Reform
has successfully reduced the electricity rates paid
by Mexicans. During this administration, rates have been reduced
in the industrial sector by 39.4%; in the commercial sector by up to 23.5%; and
in the high consumption domestic sector by 8.7%.
6. Financial reform has expanded credit, making it
available in better conditions. Between 2013 and 2015, interest rates fell by 8.6
percentage points for personal loans ; 0.6 points for small business, and 0.4
percentage points for mortgages.
Financing granted to the private sector increased
by 5.1 percentage points of the GDP; rising from 25.73% in 2012 to 30.87% in
7. As a result of Telecommunications Reform, tariffs
in the sector continue to decline while service coverage is increasing. International Long Distance rates are down 40.7% and mobile telephony
rates by 17.7%.
8. According to the World Economic Forum Connectivity Index 2015, Mexico ranked 4th out
of 143 countries in the Affordability Indicator, up 89 positions from 2014.
9. Mexico maintains historically low inflation levels: In 2015,
annual inflation was 2.13%; the lowest since 1970.
10. From 2013 to 2015, Mexico received investments of
over $99,736.99 USD; 61.1% higher than the amount achieved during the same
period in the previous administration.
“Despite these encouraging figures, the government will continue to act
with full responsibility, to cope with an increasingly complex international
The priorities of the government’s economic policy are to maintain and strengthen our macro stability and continue to implement
structural reforms as the basis for the country’s sustained growth.”