MEXICO CITY – Violence cost Mexico an amount equivalent to 21 percent of the gross domestic product (GDP) last year, when the country registered the highest number of homicides in two decades, figures released Tuesday show.
“The total impact of the violence is the equivalent of eight times the country’s health budget and seven times the education budget,” Institute for the Economy and Peace in Mexico director Carlos Juarez told EFE.
The cost of violence, according to the 2018 Mexico Peace Index prepared by the institute, was 4.72 trillion pesos ($249 billion), or approximately 33,118 pesos ($1,811) per person, in 2017.
The per capita figure is “more than four times the average monthly salary of a Mexican worker,” the report said.
The institute’s estimate takes into account both the direct and indirect costs of violence, including the cost of police operations and lost economic contributions from murder victims, Juarez said.
In 2017, Mexico registered 25,339 murders, the highest number in two decades, with the figure up 18.91 percent from the previous year.