MEXICO CITY (AP) — Mexican President Andrés Manuel López Obrador said Sunday there will be no huge economic stimulus program as the country faces the threat of coronavirus-induced crisis almost certainly unlike any it has seen in the past century.

Instead, the administration will expand social programs, continue to prop up the heavily indebted state-owned oil company, deepen the government’s austerity campaign and do everything possible to avoid taking on more debt.

“There is a lesson that we have learned well and that we don’t forget,” López Obrador said to an empty and echoing National Palace patio. “An economic model that only benefits minorities does not yield general well-being, but on the contrary engenders public misery and violence.”

The economic reactivation plan remains consistent with his administration’s priority of helping Mexico’s most vulnerable through greater public spending on social welfare, keeping people employed and cutting costs in the sprawling government, he said.

As an example, he said the top level of government bureaucrats — from undersecretaries on up to him — will have their salaries reduced and give up their annual year-end bonuses.

López Obrador promised to create 2 million new jobs over the next nine months, a seemingly incredible goal in a stagnant economy, and he gave no details on how he would do it.

He emphasized his signature infrastructure projects of a Mexico City airport, a new oil refinery and a tourist train that will circle the Yucatan peninsula will continue. The last, which has yet to begin construction, promises to create 30,000 jobs for each of its seven segments, he has said.

Other government programs pay farmers to work their land or create construction jobs through urban renewal projects improving drainage and paving roads.

López Obrador quoted U.S. President Franklin D. Roosevelt, who he described as that country’s best president: “We have always known that heedless self interest was bad morals, we now know that it is bad economics.”