Peña Nieto announces projects for the rest of his term
BY MAURILIO SOTO
The News
MEXICO CITY – President Enrique Peña Nieto announced Monday the 2014-2018 National Infrastructure Program, which will allocate a total of 7.7 billion pesos to the development of sectors such as transportation, energy, hydraulics, healthcare, housing, tourism, and urban development.
Projections estimate that the program will increase economic activity by 2 percent within the next four years and will generate approximately 350,000 jobs each year.
Likewise, Peña Nieto expects that by the end of his administration in 2018, roads will significantly improve, high speed internet will be more accessible, and the quality of media outlets and telecommunication will increase.
According to Finance Secretary Luis Videgaray Caso, private funding will be crucial, with six out of 10 pesos being provided by the federal budget and the remaining four by the private sector.
A total of a quarter of a trillion pesos has already been set aside just for the south-southeast region of the country, being that it faces some of the highest percentages of marginalization and poverty, as well as a rate of agricultural productivity that barely reaches half of that of the rest of the country.
Despite Mexico being ranked 14th among global economies and 64 amongst 148 countries in respect to infrastructure, according to the World Economic Forum’s Global Competitiveness Index, Peña Nieto believes Mexico has a long way to go.
International example has made it clear that a better infrastructure will attract more opportunities for foreign investment, allowing a country to flourish, Peña Nieto added.
Videgaray stressed the importance of adhering to total transparency, noting that individuals can track each step of the program at pni.gob.mx.
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