No recession alert: ABM

Post author:California18
Post published:January 26, 2023
Post category:News
Post comments:0 Comments

The Association of Banks of Mexico (ABM) has not turned on the alerts for the international economic recession and the delinquency in the country, according to its president Daniel Becker Feldman.

First, he argued that Mexico is not destined to have an economic recession this year like the one expected to occur in the United States and other economies, but a slowdown in growth.

At a press conference, the executive representative of the banking sector explained that this slowdown in the growth of the economy will be “damped” by consumption levels.

“Although the United States may have an economic recession, that does not mean that Mexico is definitely doomed. We cannot deny the interconnection that exists with exports, but we come from a lower comparison base and a very good dynamism of consumption”, he added.

It may interest you: Taking the air cargo from the AICM to the AIFA will cost millions and will generate minimal savings

He related that the bankers met with Rogelio Ramírez de la O, head of the Ministry of Finance and Public Credit (SHCP), this Wednesday and they were left with an optimistic perception for the performance of the Gross Domestic Product of this 2023, due to the fact that the risks are mainly external.

Finally, Becker Feldman recalled that at the end of November, the banking indicators are solid and stable and the non-payment of families and companies is not an issue that alarms credit institutions.