Poverty Increases, Capital Becomes More Concentrated in Mexico Prensa Latina
go to original February 10, 2013

Carlos Slim, the telecommunications tycoon who controls Mexico’s America Movil SAB (AMXL), is the richest person on Earth, according to the Bloomberg Billionaires Index. (Chris Goodney/Bloomberg)

As poverty increases, some 203,000 investors share 40 percent of Mexico's Gross Domestic Product (GDP), according to the newspaper La Jornada, which quoted the latest report from the National Banking and Assets Commission (CNBV).

The newspaper noted that 0.18 percent of the population has assets worth 80.1 million dollars (6.3 billion Mexican pesos), whose capital grew six times more than the economy as a whole, with a sustained increase of 13.8 percent.

La Jornada added that 12.2 percent of Mexicans have become poor over the past six years, while few investors in the local stock market increased their assets to the equivalent of 40 percent of Mexico's GDP.

That percentage accounts for the value of all goods and services produced in the country in one year at a market price.

The newspaper reported in mid 2012 that the so-called patrimonial poverty had increased from 45.5 million to 57.7 million during the six-year term of then President Felipe Calderon.

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