During the event, at which he socialized with the athletes who participated in the Pan Am and Parapan Am Games held in Toronto, Canada, the president announced that the budget has two main objectives: “Maintain our economic stability and prioritize the social policy of the Mexican state, which is designed to combat inequality and more effectively address the poverty experienced in various parts of the country.”
He said that it also, “Includes austerity measures for the government, which involve doing more with less, achieving more with less administrative overheads so that we can achieve our goals.”
He said that the budget package for next year contains very special considerations due to what the world is experiencing: enormous volatility; fluctuation, and sometimes unfortunately falling oil prices, “Which is an important component of the revenues of the Mexican state as a whole and its government; and the rise of the dollar.”
President Peña Nieto declared that, on the other hand, “We see very encouraging performance indicators of our economy. Despite this volatility, we have maintained price stability on the domestic market; with the lowest inflation rate ever since it began to be measured in Mexico."
“When inflation is low, that is good for Mexican families. It means that prices will have less of an impact, will rise less and Mexican families’ household budget will go further,” he explained.