Mexico Announces New $11.3 Bn Investment Plan

(@FahadShabbir)

Mexico announces new $11.3 bn investment plan

Mexico announced Monday new investment of $11.3 billion in infrastructure projects in cooperation with the private sector to help revive the pandemic-afflicted economy

Mexico City, (APP - UrduPoint / Pakistan Point News - 30th Nov, 2020 ) :Mexico announced Monday new investment of $11.3 billion in infrastructure projects in cooperation with the private sector to help revive the pandemic-afflicted economy.

The 228-billion-peso plan is the second of its kind since October, when 297 billion pesos of investments were unveiled to boost Latin America's second-largest economy.

The latest round includes 29 infrastructure projects in the energy, transportation, water and sanitation sectors, among others.

President Andres Manuel Lopez Obrador hailed the announcement as "an alliance for investment, for development, for job creation." Mexico's economy suffered a 17 percent plunge in the second quarter of 2020 from the previous quarter after the government introduced pandemic control measures.

Gross domestic product (GDP) rebounded 12.1 percent in the July-September period as the economy began to reopen.

Mexico has officially registered more than 105,000 coronavirus deaths -- one of the world's highest tolls.