Mexico City — Mexico’s President Andrés Manuel López Obrador foresees that the humanitarian attention stage following the devastation caused to the port and resort of Acapulco by hurricane Otis will conclude in December and in about six months the city’s economic reopening will begin, according to deputy finance minister Gabriel Yorio.
Speaking during the Bloomberg Línea Summit 2023 in Mexico City on Wednesday, Yorio said that the president has established a recovery plan for Acapulco that sets its sights on the second quarter of 2024 as a key moment in the restarting of the tourist resort’s economic activity.
“I believe that there is an immediate response package between now and December and in the interim the strategy to reactivate the economy will also be generated, I believe that the key date will be April and May of the following year.”
Gabriel Yorio, Mexico's deputy finance minister
He explained that AMLO, as the president is known, has established stages to address the situation in Acapulco following the hurricane, which was the worst to hit the country’s Pacific coast, and the first stage consists of humanitarian attention and the reestablishment of basic public services such as electricity and potable water, as well as the delivery of basic food baskets and household goods.
Yorio said that this phase of humanitarian attention will last until December and at the same time the steps to follow for the economic recovery will be reviewed, with the specific goal is that within six months the economic reopening of the region will begin.
He pointed out that in 2024 Acapulco has several important events scheduled, and therefore the economic reactivation must be implemented as soon as possible.
AMLO met with business leaders from the Acapulco hotel sector on Wednesday at the National Palace to address the reactivation of the economy and tourism, together with some 30 hoteliers.
Yorio said the social impact of the hurricane is one of the main issues that must be addressed, especially because 80% of the economic activity is informal and much of the city’s employment depends on tourism.