Queretaro’s automotive sector proceeds carefully

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QUERETARO — The president of the Automotive Cluster of Querétaro, Renato Villaseñor Mendoza, explained that companies within the industry have begun to draw up the budgets for fiscal year 2020, whose calculations will be carefully outlined against the situations that could affect the national economy.

The design of the budgets will seek to give certainty for the projects that the companies have planned for next year.

“The Ministry of Finance and Public Credit, is telling us what the interest and growth rates will be, so we are able to calculate companies’ budgets. So caution in here is important, it will provide us with certainty about projects and economic factors,” said Villaseñor Mendoza.

He added that Queretaro has attracted investments in the automotive industry despite the uncertainty environment that has prevailed during the first half of the year, which has translated into extensions and new investments within the entity.

Source: El Economista