Background on Edgar Amador Zamora and His Role
Edgar Amador Zamora, the newly appointed Secretary of Hacienda and Public Credit (SHCP) in Mexico, has begun to gain public attention. He recently spoke with El Economista during the 88th Bancaria Convention, highlighting his focus on supporting small and medium-sized enterprises (SMEs) in Mexico.
The Significance of SMEs in Mexico’s Economy
Amador Zamora stressed the importance of SMEs in driving Mexico’s economic growth. He explained that these businesses are crucial suppliers in the value chain, and ensuring their success is vital for increasing the country’s Gross Domestic Product (GDP) made in Mexico.
Plan México and Access to Credit for SMEs
Under President Claudia Sheinbaum’s administration, the Plan México was introduced in January 2025. This ambitious plan aims to enhance access to credit for SMEs, which constitute 99% of all businesses in Mexico. However, only 4.4% of these companies receive bank financing, totaling just 242,000 units.
The Role of Mexican Banks and Development Banks
Amador Zamora acknowledged the strength of Mexican banks, both traditional and developmental, in navigating volatile periods. He urged the government to leverage development banks’ balance sheets to encourage traditional banks to increase their exposure to SMEs, which are significant contributors to employment, supply chains, and the national economy.
Projected Economic Growth
Despite fiscal consolidation and uncertainty caused by U.S. policies, the Sheinbaum administration remains optimistic about Mexico’s economic growth, projecting a GDP increase between 1.5% and 2.3% for the year.
Divergent Economic Forecasts
However, some international organizations and banking institutions have forecasted near-zero growth or even a contraction in the Mexican economy.
Key Questions and Answers
- What is the main focus of Edgar Amador Zamora’s tenure as Secretary of Hacienda? Amador Zamora emphasizes the importance of supporting small and medium-sized enterprises (SMEs) to boost Mexico’s GDP made in Mexico.
- Why are SMEs crucial for Mexico’s economy? SMEs are significant suppliers in the value chain, and their success is vital for increasing Mexico’s GDP.
- What is Plan México and what does it aim to achieve? Plan México is an ambitious initiative by President Claudia Sheinbaum’s administration to enhance access to credit for SMEs, which constitute 99% of all businesses in Mexico but only receive 4.4% of bank financing.
- How do traditional and developmental banks contribute to Plan México? Both types of banks play a crucial role in supporting SMEs, with developmental banks encouraging traditional banks to increase their exposure to this vital sector.
- What is the projected economic growth for Mexico in 2025? The Sheinbaum administration projects a GDP increase between 1.5% and 2.3%, despite fiscal consolidation and uncertainty caused by U.S. policies.
- What are the differing economic forecasts for Mexico? Some international organizations and banking institutions predict near-zero growth or even a contraction in the Mexican economy.
