Mexico’s Ministry of Finance (SHCP) ranked the federal government’s top 7 priority projects by budget amount for 2023.
Among the priority projects are: Mayan Train, 143,073.3 million pesos; projects to build and conserve CONAGUA‘s hydraulic works, 44,693.0 million pesos; priority projects for construction and maintenance of communication and transportation roads by the Ministry of Communications and Transportation, 28,762.3 million pesos; development of the Isthmus of Tehuantepec, 7,682.2 million pesos; and building the Mexico-Toluca Interurban Train (first stage), 7,000.0 million pesos.
For the time being, according to the SHCP, the resources destined to priority infrastructure projects have already shown the first signs of benefits on economic growth and job creation at a regional level.
For example, the new Felipe Ángeles Airport (AIFA), which has been in operation since March 2022, has improved the connectivity of the national airport system, generating a new pole of economic development by boosting industrial, commercial and residential activity in the surrounding areas and favoring the creation of more than 421,000 direct and indirect jobs since the beginning of its construction.
Also, in July 2022, the first phase of the Olmeca-Dos Bocas refinery was inaugurated, which will contribute to the country’s energy self-sufficiency, diversifying the sources of energy inputs.
This great work has managed to detonate the economic development of the southeast of Mexico.
For example, in 2021 Tabasco was the fourth state in the country with the highest economic growth, growing almost twice as much as the rest of the states.
Another effect of this project has been that, so far in this administration, the number of formal workers in Tabasco has grown by 37.0%, while its unemployment rate has been the lowest in the last 14 years.
In addition to the above, a greater dynamism in the domestic market is expected, particularly in the south-southeast region of the country, due to the economic spillover generated by the priority infrastructure projects, which boosted the economic reactivation of the region after the pandemic.
In this sense, empirical evidence shows that multiplier effects in regions with high levels of marginalization can be significantly higher than the national average.