COVID-19 ‘Could Cost A Million Jobs’, Says Mexican President

COVID-19 “Could Cost A Million Jobs”, According To Mexican President Andres Manuel Lopez Obrador.

The coronavirus disease 2019 or COVID-19 could cost a million jobs in Mexico, according to Mexican President Andres Manuel Lopez Obrador.

This, as the economy in Mexico was already in recession prior to the COVID-19 pandemic hit, as such, investment banks in the said country have forcasted contractions as large as 9% for 2020.

Mexican President Andres Manuel Lopez Obrador | Photo from REUTERS

In a televised speech on Sunday (Mexican time), Mexican President Andres Manuel Lopez Obrador predicted that “a million jobs will be lost” due to COVID-19 pandemic, added that the Mexican government will “create two million new jobs”. According to a report from Reuters, the number of lost jobs matched the estimate by Mexico’s business coordinating council (CCE).

Previously, Reuters reported that the Mexican government issued guidelines for restarting operations in carmaking, construction, and mining in the country that was linked to the US and Canada via free trade agreement.

As per the report, the finance ministry said in the country’s annual economic report last April that the economy of Mexico could contract by 3.9% in 2020. In addition, the finance ministry said that numbers incorporated “a drastic impact” from the coronavirus disease 2019 or COVID-19.

Mexico reported 2,764 new confirmed cases of COVID-19 and 215 new coronavirus fatalities as of 8:58 a.m., bringing the total number of confirmed cases to 68,620 and a total of 7,394 coronavirus deaths. Moreover, Mexico reported a total of 47,424 recoveries.

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