• DOORS: The López Obrador administration has shut the door to all ideas from the Mexican private sector on a relief plan to deal with the coronavirus downturn, Mexico’s largest business lobby (CCE) admitted Tuesday. Accordingly, CCE called upon businesses to launch a plan of their own.
• ACTIONS: Two days after President Andrés Manuel López Obrador launched a plan that did not offered to any fiscal relief for businesses -like extending filing deadlines or postponing tax payments-, the CCE said large businesses ought to launch actions to protect small and medium enterprises.
• MITIGATION: “The government of President Andrés Manuel López Obrador has closed all doors to us, but we believe that we can all do something together to mitigate the coming catastrophe”, said Carlos Salazar Lomelín, the president of CCE, in a video conference call with his members.
• FORECAST: Amid a series bleak forecasts by investment banks and international organizations predicting the Mexico’s GDP contracting up to 8% in 2020, CCE said that the collapse could be even worse reaching 10% of GDP and that this would mean the loss of 1.4 million jobs.
