Mexico’s first female president, leftwing academic and climate scientist Claudia Sheinbaum, has set out her agenda. She pledged to maintain the social policies of her mentor and predecessor, the widely popular former president Andrés Manuel López Obrador (commonly known by his initials, AMLO).
She promised a transition to green energy, and set out the need for new infrastructure in railways, ports and airports. Sheinbaum inherits a US$1.79 trillion (£1.4 trillion) economy closely integrated to that of the US – in fact, Mexico has the second-largest economy in Latin America. It is also the most populous Spanish-speaking country in the world with 128 million people.
But Sheinbaum also inherits Mexico’s largest budget deficit since the 1980s.
Despite social policies that have seen 9.5 million Mexicans lifted from poverty during AMLO’s six-year term, 36% of Mexicans are still poor and 7% live in extreme poverty. Access to health services remains problematic, and has worsened for those living in deprivation.
Gross domestic product per capita, a measure of wealth, actually fell during the previous administration, which means the “average” Mexican is worse off now than at the start of AMLO’s presidency. And next year, the central bank estimates GDP will grow by only 1.2%, which will inevitably constrain Sheinbaum in her early years in office.
While campaigning, she promised to continue the social and political policies of her predecessor. Now in office, she will not only grapple with the country’s security situation but also navigate serious economic and fiscal challenges.
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