Slim suggests increasing wages in Mexico

The tycoon said that an increase in income will improve the demand for goods and, with it, there will be growth

The businessman Carlos Slim called on the authorities to increase the minimum wage and, with this, the consumption and dynamism of the national economy is triggered.

The richest man in the country said that one of the elements to boost the growth of the Mexican economy, in addition to the investment generated by the infrastructure plan presented by the government and the private initiative, is the increase in wages.

“An important additional factor to this of the infrastructure is that the minimum wage improves, that wages improve, because that will improve the demand for goods, which will be very important that with this generation of jobs the wage bill will grow substantially; Then there is a greater demand for goods that is one of the problems we have when there is an economy that does not grow and that demand for goods gives economic dynamism to the country, ”he said.

At a conference in the framework of the 30th National Civil Engineering Congress, the magnate stressed that investment in 147 infrastructure projects announced on Tuesday will increase the number of jobs with more competitive salaries.

“The figures for temporary and permanent job creation are very important, because they are also high-capacity and better-paid jobs,” he said. Slim stressed that infrastructure investment can be the trigger for economic growth, and announced that the proposal of the private initiative is that the country invests annually equivalent to five percent of GDP, which is more than 70 billion dollars .

“Now the investment is not a consequence of economic growth. Now we are the trigger for growth, we are the reason, ”he said.

The honorary president of Grupo Carso, considered that the country has become attractive to investors due to the sound management of public finances and low inflation, which is within the objective of the Bank of Mexico of three percent.

In that sense, he described as a “great opportunity” to the current conditions of the country to attract capital to support infrastructure projects.

He recalled that Asian countries such as China invest up to 12 percent of their GDP in that area, which has led them to grow double digits in recent decades.

Market confidence will continue as long as investors get positive returns and Mexico’s credit rating remains, he said.

The national infrastructure agreement had already been raised before, but it had not been carried out with the commitment and desire to execute it now, the businessman recalled.

Source: seolde mexico

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