Mexico likely to unveil key infrastructure plan

Mexico's President Andres Manuel Lopez Obrador attends a news conference at the National Palace in Mexico City, Mexico

We have already made significant headway. It’s just a matter of reaching an agreement (as to when) so that the plan is presented here,” Xinhua news agency quoted the President as saying at a briefing on Monday.

“I hope the plan will be presented by September 15,” he added.

In November 2019, his government announced it was spearheading a National Infrastructure Agreement between the public and private sectors to invest some 859 billion pesos ($40 billion) in about 150 projects in the areas of transportation, telecommunications, basic services and tourism, as well as energy.

Lopez Obrador’s administration will present the proposed 2021 budget on Tuesday, which he has described as “austere”.

Mexico’s economy, Latin America’s second largest after Brazil, could shrink by 10.5 per cent in 2020 due to the Covid-19 pandemic, according to the International Monetary Fund.

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