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AMLO reports 3.7 percent economic growth in first quarter

Mexico City, Mexico — President Andrés Manuel López Obrador says that the Mexican economy grew 3.7 percent annually in real terms during the first quarter of 2023.

That is according to data published by the National Institute of Statistics and Geography (INEGI).

“It is good news that INEGI announced the economic growth data which has increased 3.7 percent annual average, our economy is growing,” he said.

During his morning press conference, he referred to qualities of the national economic panorama, such as the constant drop in inflation thanks to the Opening Agreement Against Inflation and High Costs (Apecic) and the subsidy on fuel prices.

“Inflation is going down. It is already at 6 percent. This is very important because it is going down in energy, the prices of gasoline, diesel, gas and electricity are being sustained and food prices are already falling.

“We are going to continue taking care so that inflation continues to drop,” he said.

Simultaneously, he highlighted the strength of the Mexican peso, which continues as the most appreciated currency in the world in relation to the dollar and recalled that Mexico is the second country with the lowest unemployment rate internationally.