US$216 Million Transportation Investment in Mexico CityBy Emilio Aristegui | Thu, 12/16/2021 - 14:44
Mexico City mobility and traffic numbers begin to recover after a successful vaccination campaign. As a result, the city government focuses on improving public transportation for its population.
“The net debt ceiling proposed in the 2022 Economic Package is MX$4.5 billion (US$214 million), as authorized by Congress and in line with the objectives of real debt reduction at the end of the administration. The resources will be used responsibly to continue with the key infrastructure works that benefit the entire population in the city,” reads a tweet from Mexico City’s Ministry of Administration and Finance (SAF).
Mexico City’s public finances and economy have shown significant recovery, with indicators reaching pre-pandemic levels, especially those of social interaction which registered important rebounds according to the city’s Economic and Performance Prospects’ Report. Approximately 95 percent of the capital’s population has been vaccinated, representing a major step toward achieving full vaccination in the city in the city. Construction and trade have boosted growth, with 98,000 jobs created in October, according to the Mexican Social Security Institute.
Besides vaccination, the reactivation plan for Mexico City has considered support for family income, public investment, tourism reactivation, cultural reactivation and security strategies. The city plans to align its economic growth with that of the entire country by the end of 2022, with the International Monetary Fund (IMF) setting expectations at 6.4 percent annual GDP growth for emerging economies in 2021.
The recent tragedy of Mexico City’s Metro Line 12 earlier this year has forced the city’s government to increase efforts to supervise, modernize and fix current infrastructure, as well. The tragedy that killed dozens in the city’s busy subway network is still in the current government’s mind, with Head of Government Claudia Sheinbaum highlighting the importance of maintenance and security, as reported by MB.
“We will work on the modernization of the Buen Tono substation on Line 1 of the Mexico City Metro, on the acquisition of buses for the Mexico City Passenger Transport Network and trolleybuses for the Electric Transports of Mexico City Network, among other projects that will generate more and better mobility,” reads SAF’s report.