This year marks the 110th anniversary of the Mexican Revolution, after which then President Porfirio Díaz was overthrown after 30 years in power. The movement was initiated on November 20, 1910 with an uprising led by Francisco I. Madero, although at first it was a struggle that eventually turned into a civil war.
Years after the conflict a new stage began, the institutionalization and implementation of economic, social and cultural development projects.
EconomíaHoy.mx makes a list of five important institutions that were born after the revolutionary conflict for the development of Mexico.
Bank of Mexico (Banxico)
After the Mexican Revolution, the Constituent Assembly enshrined its creation in article 28 of the Magna Carta promulgated in 1917, which established that the issuance of currency would be exclusively entrusted to a bank that would be under the control of the government.
The (Banxico) began its operations on September 1, 1925, due to the budgetary and organizational efforts of the Secretary of the Treasury Alberto J. Pani and President Plutarco Elías Calles, its foundation helped to close the period of monetary instability.
The purpose of Banxico is to provide the Mexican economy with national currency through the stability of the purchasing power of the peso and it is the only institution that has the authority to issue national currency.
National Bank of Public Works and Services (Banobras)
In the years after the Mexican Revolution, delays in public services began to be seen, and on February 20, 1933, the Banco Nacional Hipotecario Urbano y de Obras Públicas (Banobras) was founded.
The institution has created infrastructure with high social profitability that raises the quality of life of the population, as well as the economic one that drives the competitiveness of all regions of the country.
Currently, Banobras is the fifth largest bank in the country by portfolio size and the first in Development Banking. Likewise, since its creation it has been present in the different stages of the history of modern Mexico.
Petroleos Mexicanos (Pemex)
It was formed from the expropriation of 17 English and American companies on March 18, 1938 by then President Lázaro Cárdenas, after a labor conflict with those companies, which generated a nationalist sentiment in the majority.
The Pemex oil company was created on June 7, 1938 and became one of the most important exporters of crude oil in 1974, thanks to the discoveries and exploitation of the Cantarell field, in the Sonda de Campeche in the Gulf of Mexico, whose reserves reached 40, 194 million barrels.
Institutional Revolutionary Party (PRI)
After the death of Álvaro Obregón in June 1928, it led the then President of the Republic, Plutarco Elías Calles, to propose that the country cease to be one of caudillos to become a nation of institutions. This is how the creation of the National Revolutionary Party (PNR), later called the Party of the Mexican Revolution (PRM) and finally, the Institutional Revolutionary Party (PRI).
On March 4, 1929, this party was born, which had to face opposition from a sector of the army that felt displaced from the next presidential succession.
In the 2105 elections, the PRI was the most voted party with 28.7% of the national vote, according to official INE calculations.
Secretariat of Public Education (SEP)
In 1919, public education seriously suffered from the lack of adequate organization, which is why José Vasconcelos proposed the creation of an institution that would attend to education, public libraries, and culture in the country.
Through the publication of the decree in the Official Gazette of the Federation, the Ministry of Public Education (SEP) was created on October 3, 1921 and on October 12 of the same year, Mr. Vasconcelos assumed ownership of the SEP.
The vision of the first secretary of public education went beyond building schools, his ideal was that, through instruction, literature and the fine arts, Mexicans extol their essence.
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