At the 89th Banking Convention inauguration, President Claudia Sheinbaum urged bankers to boost credit from 38% to 45% of GDP to drive development. Mexico's Banking Association committed to this goal by 2030. Sheinbaum also unveiled a new infrastructure investment law.
President Claudia Sheinbaum inaugurated the 89th Banking Convention and asked bank executives to raise private sector credit from 38% to 45% of GDP. 'The Mexican banking sector still has much to give to the country,' Sheinbaum said, noting limited SME financing access compared to other Latin American countries. Emilio Romano Mussali, president of the Mexican Banking Association (ABM), confirmed the commitment: 'That is our commitment. That is our duty.' Currently, over 70 million Mexicans have a banking product, but a National Financial Education Center is proposed to expand inclusion. SHCP's Edgar Amador stressed productive credit's importance for micro, small, and medium enterprises, with the banking portfolio exceeding 7 trillion pesos. Sheinbaum announced the Law for the Promotion of Strategic Infrastructure Investment for Development with Welfare, aiming for 30,000 additional MW of electricity generation by 2030, raising renewables from 35% to 48%, 1.8 million barrels of daily oil production, and mixed investment of 5.6 trillion pesos in highways, ports, trains, and water. She acknowledged global challenges like high fertilizer and oil prices but highlighted a strong peso and controlled inflation.
