MEXICO (Prensa Latina) Amid a battle with the H1N1 influenza virus, Mexicans must now deal with an economic emergency declared by the Federal District. La Jornada daily, quoting Governor Marcelo Ebrad, says the 2009 quarterly global indicators of economic activity dove seven percent. Mexico City was hardest hit, with home purchases dropping 40 percent.
Effects from the global economic crisis will show financially in some companies claiming bankruptcy and socially in raising unemployment while the GDP will shrink to 1995 levels: the second largest recoil in the 21st century.
The fact that the numbers will grow worse with the flu pandemic forced the local government to declare an economic emergency, said Ebrad.
The governor called the Chamber of Deputies to allocate a contingency fund to reactivate the city and soften effects of the health alert on the economy and labor market.
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