Mexico needs to get back to steady economic growth. To do that, we need to focus on domestic activities and the things we can control.
Stabilize the peso. Devaluation of the peso is impacting every sector of the economy and increasing the cost of imported goods. The Central Bank of Mexico's monetary policy will be critical in dealing with the peso's volatility against the U.S. dollar.
Reduce government spending. Public expenditures continue to reach historic levels and our overall debt has surpassed 50% of total GDP. Greece is an example of how reckless spending can have devastating consequences.
Cut gas prices. For every liter of gas purchased, nearly 40% goes toward taxes. We're the 4th largest oil producer in the Western Hemisphere, so why do prices keep going up? Pemex needs to invest in refineries and improve their supply chain.
Increase public safety. Lack of security has a direct impact on business growth, foreign investments and quality of life. Federal and local governments need to work together to improve our security strategy, police force, equipment and intelligence to fight crime to create a safer Mexico.
Fight corruption. Implement initiatives and specific measures that target corruption at all levels of government. Let's eradicate the fraud and sleazy business dealings once and for all.
Crisis situations like the one we are in now always offer opportunities. They challenge us to discover creative
ways to better use our own talents and resources to improve our lives. The time to start is NOW.
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