Mexican President Andres Manuel Lopez Obrador, in his first state of the union a...
MEXICO CITY - Mexican President Andres Manuel Lopez Obrador, in his first state of the union address on Sunday, doubled down on his approach to managing Latin America’s second-largest economy, saying the interests of private firms would be subordinated to those of the nation.
Lopez Obrador said last Tuesday that after a months-long dispute, he had saved taxpayers $4.5 billion by making companies renegotiate several natural gas pipeline contracts agreed to by the last government. Lopez Obrador underscored on Sunday that his economic plan would look to promote private enterprise, boost foreign trade and promote the attraction of foreign investment.
The central bank said on Thursday the economy was facing headwinds, including stagnating private investment, which was affected by a persistent environment of uncertainty stemming from the public policy decisions made by the government and concerns over insecurity and corruption.
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