Mayra Gonzalez
Juarez Journal
Monday, March 15, 2021 | 12:11
Juarez City- The economic stimulus that Mexicans did not receive from their president Andrés Manuel López Obrador “known as AMLO” came to them through the payment just approved this week by US President Joe Biden, which began to be deposited in bank accounts. .
Residents of Ciudad Juárez who hold North American documents, either as citizens or as permanent residents, will use on this side of the border the $ 1,400 resource that the U.S. government will provide per person to the “middle and lower classes” in support. for the Covid-19 pandemic.
Angélica Flores has four children born in El Paso, Texas, she and her husband are residents of that country, they all live in Juárez and recently received $ 1,400 for each of them, or $ 8,400 in total.
With this amount, Angélica will pay for a truck she obtained on credit, as well as other debts, as mentioned.
The bill authorized the verification of $ 1,400 to millions of low- and middle-income Americans in an attempt to get the country out of the public crisis due to the health emergency.
Like Angélica, Abraham López, who also lives in Juárez, received this resource for his two children, $ 2,800 to support the pandemic plus $ 1,000 in income tax for each.
With that amount, he will install electricity in an extension he made at his home and buy musical instruments and sound equipment for a Christian temple that will open soon, he said.
He said that in addition, the country provided support of $ 600 for people infected with the virus, this amount was also received by his mother, who was admitted to the general hospital after suffering from the disease.
Nohemí Ordaz is another Juarenses who received this support for his two daughters born in El Paso.
“Now that the pandemic has arrived, my husband’s salary has been reduced and he has received many benefits, and since we were all locked up at home, there have been more expenses for services and food.
The payment of the house does not wait, so all the economic resources we can buy go to this and to the food.
In addition to my parents’ support, he walks by me. I try to save by using coupons for anything, ”he said.
Engine for Mexico
López Obrador came to power promising to make Mexico’s economy less dependent on its northern neighbor. Its anti-pandemic policies have the opposite effect.
The Mexican president managed one of the world’s most austere budgets through the Covid-19 crisis, refusing to lend extra money as the economy shrank. The stimulus that has prevented an even deeper recession and is set to fuel a comeback this year comes from the United States.
Mexico has benefited in two key ways from the pandemic spending of the United States, which is estimated to exceed $ 5 trillion under the new Biden administration bill.
Remittances rose to a record high as Mexican expats received incentive checks and sent some of their money home. Exports also reached a record high, as things that Americans wanted to buy in the era of blockades and work from home, such as new televisions or computer equipment, correlated well with Mexico’s manufacturing industry.
The result is that the US stimulus has added about 3.5 percentage points to Mexico’s gross domestic product in 2020, seven times more than the fiscal measures taken by the country’s own government, according to calculations by JPMorgan Chase & Co. This year’s figures can be unequally equal.
The fact that Mexico has “a kind of recovery is due precisely to the stimulus package in the United States,” said Gabriel Lozano, JPMorgan’s chief economist in Mexico. “To some extent, it offset what was not delivered by the government.” (With information from Bloomberg)