UN General Assembly
1995

purpose: to recognize the need for adjustment while mitigating its costs to the fullest possible extent and at the same time constructing a new platform for the sustained development of the economy. As of now, inflation in Mexico is markedly declining, as are interest rates; productive activity in key sectors of the economy is beginning to regain its dynamism; and the Mexican economy is continuing its process of structural transformation with a view to maintaining and increasing our competitiveness. The balance of trade, which was in severe deficit, is now showing a surplus, and we are continuing to look for other markets in the world, be they developed or developing, in order to diversify our trade. We fully recognize the social costs of the crisis, and steps are being taken to mitigate its effects. To assess the situation in its true light, however, it is not sufficient to consider only the cost of the present economic policy. The still greater cost that would have been incurred if decisive action had not been taken in this serious situation