AMLO, One Year in Office
A year on from taking office, President Andrés Manuel López Obrador assessed the progress of his government. He highlighted the government’s achievements and asked for one more year to fulfill commitments made after taking office.
Among the outstanding results were:
The Labor Reform signed in May, a change that has been needed for year.
The new Labor Bill, which favored the fall of union leaders with decades in power.
The New International Airport for Mexico to be built in Texcoco was cancelled in favor of a new project in Santa Lucia.
The four percent GDP growth promised failed to materialize and will instead be worked toward in the future.
- The signing of the Infrastructure Investment Agreement, spurring the development of 147 top projects, most of which will be carried out by the private sector.
-The start of the new Dos Bocas refinery. Despite some companies rejecting the conditions of doing the project in three years for US$8 billion, the works finally started in Tabasco.
-Carlos Urzúa, then Minister of Finance and Public Credit, left his position. In his resignation letter, Urzúa criticized the appointment of officers that had no experience in public finance.
-PEMEX was downgraded after publishing its Business Plan. Fitch, Moody’s and Standard & Poor’s expressed concerns about the NOC’s vulnerability.
- Mexico saw the economic deceleration that started during the previous last administration take hold. Today, the Mexican economy can be considered to be in technical recession.