President Andres Manuel Lopez Obrador is adamant that Mexico is about to make a speedy recovery from the economic contraction caused by the Covid-19 pandemic lockdown of March, April and May.
Unfortunately, there is a lot of ground to recover. The drop in second quarter GDP of just over 17 percent was the worst since 1932 and the Great Depression, some analysts have pointed out. It may take up to a decade for Mexico to return to pre-pandemic GDP levels, some are saying.
Speaking at his regular morning press conference Thursday, Lopez Obrador said the latest data suggests the crisis has “bottomed out,” and that the economy will “bounce back” and begin a “sustained recovery.”
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