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Mexico: López Obrador’s First Year
Budgets
The administration’s first budget was presented by Urzua on 16 December 2018. The 2019 Budget was cautions and prudent overall, particularly in terms of fiscal discipline, though some of its assumptions were considered a little optimistic (particularly regarding the exchange rate and growth). As López Obrador promised, it also contained no new taxes, nor increases to existing taxes. It also stayed away from any interventions with Banxico and kept inflation targets in line with the central bank’s. Indeed, it was seen as a message to investors that the regime would continue with an orthodox economic policy.
- A dominant start
- Opening gambit
- Austerity against corruption
- Relations with the Judiciary
- Public consultations
- Presidential recall
- Orthodox or heterodox?
- Relations with business
- Budgets
- Energy
- Infrastructure
- Champion of the poor
- Focus on wellbeing
- Education
- Youth programmes
- Health
- Rural sector and indigenous population
- All change, but no change
- Few changes
- No improvement
- Curbing abuses
- Low priority
- Non-intervention
- Relations with the United States
- Outlook