As a reaction to the recent bout of the global financial crisis and the deteriorating prospects for external financing, the government decided to withdraw the draft 2009 budget and rewrite it so that the deficit reduction next year is more pronounced. In addition, the IMF rescue package came with conditions which implied further expenditure-cutting measures.
We are going through an intensive stage in acquiring knowledge and promoting education that should lead us to implement an effective deployment strategy. Last but not least, I would like to mention that since 2016, private and public Mexican institutions have issued a total of more than 33,000 million pesos in green bonds, of which more than 90% is outstanding today.