MEXICO CITY, July 20 (Xinhua) -- Mexican President Andres Manuel Lopez Obrador said Thursday that the country's economy is enjoying a period of strength without stagnation, with its currency at its best levels in eight years against the U.S. dollar.
In his daily press conference, the president hailed the results released earlier by the National Institute of Statistics and Geography (INEGI), which revealed the economy grew 4 percent year on year in June, with the services sector advancing 4.3 percent.
Lopez Obrador said that the country's economy has overcome the contraction it suffered in 2020 due to the COVID-19 pandemic, partly because of the government policies of not acquiring debt and offering support to the neediest.
The president noted that the good state of the economy has led to the appreciation of the Mexican peso against the U.S. dollar.
The Mexican peso is currently trading below 17 pesos per dollar, at its best value since December 2015, according to experts. ■