The changes in the Judiciary derived from the law reform are not the reason why the economy grows at a slower rate compared to last year. For Banamex, the slowdown is caused by global issues, said its general director, Manuel Romo.
The manager of one of the four banks with the largest presence in the country pointed out that the bank’s analysis area has not observed a slowdown in the demand for financing or an increase in default levels after the start of the judicial reform.
“You see my expired portfolios and they are very good. You see the system’s expired portfolios and they look good, they look, I say, with the pressures of consumption that you must have, but you don’t see anything that worries you and the activity continues.
“There is a slowdown, not caused by the legal certainty of the reform or that there were concerns there, but rather due to other causes; it is an issue of interest rate rates, of concern about investment, slowdown in consumption, but it is not that issue in particular,” Romo said in a meeting with the media.
The banks, he expressed, “of course” are concerned about some changes that have come with the new judicial reform, “and we are following it because it is a legal scaffolding. We knew how things worked and now we have to see how they are going to change, if they are going to change, and if it allows us to have certainty and how to operate in this new environment.
“That is a topic that we talk about a lot in the union, in the Association of Banks of Mexico, with businessmen, clients.”
He added that the pending issues for the country’s economy to grow at a faster rate are public knowledge, among which they highlight that “investment must be increased and sustained… Necessary conditions for the future: science, technology and education, on the one hand; infrastructure, transportation, energy and water resources management, on the other.”
Although, he anticipated, the Mexican economy showed surprising resilience in the first half of this year, the prospects weakened during the second; However, for the coming year, the bank’s analysts’ forecast for the behavior of the country’s economy is a growth of 1.5 percent.