By: Redacción, El Financiero – 10/09/2020
President Andrés Manuel López Obrador commented this Friday that the remittances sent by Mexican migrants to the country are greater than what his administration allocates to the poor.
"Remittances win over us. Never has Mexico allocated so much money to attend to the poor than we have, and in any case, the amount of remittances is more than what we destined to attend to the poor, " he said in his daily morning press conference.
In total, he added, the federal government directly grants about 600 billion pesos for support, scholarships and pensions, but remittances are higher.
"With regard to remittances, there is no comparison to what is allocated by Mexico to social programs support. The remittances are blessing because they reach down to 10 million families who receive an average of $200 to $300 dollars per month, on an average of $350 dollars per month. That is what is saving us during the current crisis", AMLO said.
The president added that the forecasts of international financial organizations predicted that remittances would fall due to the pandemic, but they failed "and what we have to conclude is that our Mexican countrymen, the migrants, are helping us a lot, a lot, a lot".
On October 1, 2020 the Bank of Mexico (Banxico) reported that money sent by Mexican nationals to Mexico increased by 9.3 percent in August. Only in the eighth month of the year, there were $3,574 billion dollars sent by U.S. residents.
López Obrador pointed out that he already has the remittances data through the end of September 2020, and that the percentage remains at a 10 percent increase compared to the previous year.
By: Redacción, El Financiero – 10/09/2020
