(Photo: Courtesy Presidency)

The President of Mexico, Andrés Manuel López Obrador, in his conference on Thursday affirmed that the economic recovery begins in July, after three difficult months due to the health contingency derived from the COVID-19 coronavirus.

« We closed June with only 82 thousand jobs lost in those enrolled in social security, when 550 thousand were lost in April, that is, we already hit bottom and we are going to go up, Of course, the official reports of economic growth will reflect the fall of April, May, June, but I can safely say that we are beginning to recover economically.« Indicated the Mexican president.

López Obrador said he was optimistic about an early economic recovery, since despite the pandemic and remittances they increased by 10% in the first half of the year, compared to last year.

“Despite the pandemic, in the semester remittances, according to our calculations, are going to grow compared to last year to the first semester of 2019, they are going to increase 10 percent on average. Yesterday the Banco de México announced that from April to May remittances increased 18 percent. So thank you very much to our fellow migrants.

That is why I am optimistic, among other factors, and I feel that we are going to be able to achieve the recovery soon, which I have been holding from the ‘V ‘, that we have hit bottom and that we are going up, because there are good indicators,” he explained.

Remittances to Mexico, one of the country’s main sources of currency, They grew in May driven by a higher number of shipments, which offset a decline in the average amount of operations., according to figures released Wednesday by the central bank.

Capital received during the fifth month of the year totaled USD 3,379.4 million, 3% more than in May 2019, according to a monthly report by Banco de México. In April, remittances fell 2.6% compared to the same month the previous year.

According to the report, the total number of transactions increased 4% year-on-year, while the average amount per shipment decreased 0.9% to USD 319.

In accumulated figures, remittances increased 10.4% between January and May to USD 15,537.9 million compared to the first five months of 2019, the central bank said.

Information in development