Mexican Government’s Stimulus Measures Target Housing and Infrastructure Sectors
| Date Published | 9/23/2013 |
| Author | Marja Hoek-Smit |
| Theme | |
| Country | Mexico |
Links:
Mexican Government’s Stimulus Measures Target
Housing and Infrastructure Sectors
On 13 September, Mexican President Enrique Peña Nieto
announced a MXN27 billion (US$2 billion) economic growth acceleration program
that targets financing support for the housing industry, consumption credit and
infrastructure. Although many details are currently unknown, the government
announced that close to half of the stimulus funds would be allocated to the
housing sector and will be spent by year-end through Mexico’s Sociedad Hipotecaria Federal S.N.C. (SHF), a second tier
housing bank, and the National Housing
Commission, CONAVI. Together with the previous MXN6 billion allocated to a revolving
syndicated loan program through two development banks, SHF and Nacional Financiera,
this new stimulus funding brings the total spending by the Peña Nieto
government on the housing sector to about MXN34 billion (US$2.6).