Coronavirus could cost Mexico a million jobs: president

Coronavirus could cost Mexico a million jobs: president

Mexican President Andres Manuel Lopez Obrador said on Sunday that the novel coronavirus could cost as many as a million jobs in the country as many industries considered not essential remain shut, Trend reports citing Reuters.

The Mexican economy was already in recession before the pandemic struck and different investment banks have forecast contractions as large as 9% for this year with only a gradual recovery next year.

“My prediction is that with coronavirus, a million jobs will be lost,” Lopez Obrador said in a televised speech. “But we will create two million new jobs.”

The job loss number matches the estimate by the country’s business coordinating council (CCE).

Lopez Obrador’s government repeatedly said it had the outbreak under control but since posted record numbers for new cases and deaths.

Earlier this week, his government issued guidelines for restarting operations in carmaking, mining and construction in Latin America’s second-largest economy that is linked to the United States and Canada through a free trade agreement.

In April, the finance ministry said in an annual economic report used to guide the budget that the economy could contract by as much as 3.9% this year, adding that the numbers incorporated a “drastic” impact from coronavirus.

Bulgaria, Greece to ensure clear distribution of tax profits from IGB
Bulgaria, Greece to ensure clear distribution of tax profits from IGB
BP, Enagas to promote projects to reduce emissions
BP, Enagas to promote projects to reduce emissions
Ryanair resumes flights from Greece after four-month grounding
Ryanair resumes flights from Greece after four-month grounding
Loading Bars
Latest
Alibaba Cloud announces business expansion in Southeast Asia
Egypt receives 313 tourists from Switzerland, Belarus amid flight resumption
McDonald's to pause U.S. reopening of dine-in services by 21 days
Iran to inaugurate more dams, water treatment plants
Azerbaijan extending special quarantine regime
Azerbaijan increases import of Indian products
Azerbaijani Agriculture Ministry discloses volume of harvested cereal crops
Bulgaria, Greece to ensure clear distribution of tax profits from IGB
BP, Enagas to promote projects to reduce emissions
Azerbaijan to start exporting hazelnuts to Egypt, Pakistan, Italy
Azerbaijan’s Az-Granata to greatly increase revenues from export of pomegranate juices, wine
Turkmenistan can increase export to Russia’s Astrakhan
Revenues of Southern Gas Corridor CJSC rise
Georgia's Namakhvani HPP receives building permit
Export of Azerbaijani products to Australia edges up
DAIR Hotels & Restaurants Association talks prospects for gastronomic tourism in Azerbaijan
Azerbaijan confirms 572 new COVID-19 cases
Georgia's National Bank carries foreign exchange intervention to stabilize lari
Public services digitalization leads to indirect economic effects in Kazakhstan
Southern Gas Corridor CJSC’s assets up
Data on cargo transshipment from Kazakhstan via ports of Turkey announced
Turkmenistan’s Demiryollary to buy materials for track superstructure via tender
Georgia makes changes in preferential agro-credit system for food industry
Azerbaijani gymnasts congratulate policemen on professional holiday (VIDEO)
New opportunities from UNEC for those who want to study Design (PHOTO)
Demand for notes of Azerbaijan's Central Bank surpasses supply
Turkey discloses volume of cargo transshipment through Antalya port
Azerbaijani Agriculture Ministry talks issuing subsidies to farmers
Georgia expands agriculture support programs
Turkmenbashi Complex of Oil Refineries opens tender for feasibility study preparation
Azerbaijani banks' demand at CBA's foreign exchange auction rises
EBRD reveals total investments volume in Turkmenistan
Payment card turnover increases in Azerbaijan
U.S. trade deficit widens as exports fall to lowest level since 2009
Azerbaijan sees growth in volume of deposits
Kazakh president makes amendments to laws on ensuring internet accessibility
Ryanair resumes flights from Greece after four-month grounding
Georgia decreases live chickens export to Azerbaijan
Bank lending on rise in Azerbaijan’s capital and districts
Azerbaijan working on optimizing usage of excess energy
Japan significantly raises import of Kazakh-made goods
Get 4G MiFi device and 3 months of 10 GB internet for just 119 AZN from Azercell!
Kazakhstan, Turkey to cooperate in SMEs development
Turkey's trade turnover with France shrinks
Geological exploration in Kazakhstan to be held over next 4-5 years
Georgian ambassador: Southern Gas Corridor to bring additional investments
Amount of mortgage loans issued by Azerbaijani banks drops
UK says significant differences remain on Brexit free trade deal
Turkey not ruling out leaving Istanbul Convention
Iran reveals housing units built within Mehr Housing Project
Georgia, Azerbaijan to hold another business forum - ambassador
Italy's Prada sales in Asia up double-digit, trend will continue - CEO
Uzbekistan's Uzbekneftegaz overhauls natural gas well in Karakalpakstan
Several airlines to carry out charter flights to bring Georgian citizens home
Uzbekistan may implement joint projects with Spanish Inditex company
Volume of cargo transshipment from Portugal via Turkish ports revealed
Uzbekistan's COVID-19 cases nearing 9,000
Real estate expert talks car prices in Azerbaijan following fuel price rise
Kazakh-Turkish JV opens tender to buy wells piping spare parts
Tesla beats vehicle delivery estimates for second quarter
Singapore's companies mostly operate in Kazakhstan's trade sector
Uzbekistan launches paper production facility
Tender on building overhaul opens in Azerbaijan's Gabala
Entrepreneurs in Azerbaijan to receive loans under state guarantees
EBRD to provide new loan for Turkmenistan's construction sector
Turkey's five-month cargo transportation to Ukraine almost doubles
Azerbaijan's Entrepreneurship Development Fund reveals amount of issued loans
Azerbaijan’s energy minister: It is important to continue expanding OPEC+ format
Ambassador talks cooperation between Azerbaijan, Georgia to increase transit potential
American Airlines warns of 25% drop in international capacity in 2021 summer
Azerbaijan marks growth in number of debit cards
Loan term extended for entrepreneurs in several spheres of Azerbaijani agricultural sector
Geostat: Bulgaria ranks third among largest importers of Georgian products
Chemical fertilizer production plants in Iran's Bushehr province resume operations
Azerbaijan reveals data on lending to economy
Azerbaijani president makes phone call to Russian president
Turkish BOTAS announces volume of oil shipment from Ceyhan terminal
Uzbekistan, US may establish joint investment fund
Liberty Steel Hartlepool updates on work at Umid field
IRENA to partake in Azerbaijan's bioenergy mapping
Banks of Uzbekistan to sell gold bullions
Iran's AEO spokesman talks Natanz nuclear facility damage following accident
Ambassador: SOCAR actively participates in gas supplies for Georgia's new projects
Amount of problem loans down in Azerbaijan
Uzbekneftegaz increases gas production in Uzbekistan's Karakalpakstan
Iran reveals its COVID-19 data for July 2
Turkmenistan working with USAID to find best solutions agricultural pests
Uzbekistan to take measures to further improve agricultural management system
Kazakhstan's renewable energy to benefit from long-term power system dev't scenarios
Uzbekistan intends to issue Eurobonds in national currency
Azerbaijani, Afghan, Turkmen presidents meet through videoconferencing (PHOTO)
USAID intends to strengthen energy co-op with Turkmenistan
Kazakhstan introduces new standards for halal goods production
Bank deposits in Azerbaijani regions mostly made in national currency
Turkmenistan working to obtain status in WTO
Turkmengas strengthens production of enterprises with new equipment, vehicles
Kazakhstan's oil & gas company to buy oils via tender
SOCAR talks construction of new structures at Heydar Aliyev Oil Refinery
President Ilham Aliyev makes Facebook post on occasion of Day of Police (PHOTO)
First Vice-President Mehriban Aliyeva congratulates Azerbaijani policemen on their professional holiday (PHOTO)
All news