Mexico's Sheinbaum vows to raise minimum wage, build infrastructure, without tax hikes

Mexico City, June 26 (Reuters) - Mexican President-elect Claudia Sheinbaum said on Wednesday that she has no plans to increase taxes for the general population but that her administration would continue to invest in major infrastructure projects and increase the minimum wage.

By Reuters

26 Jun

Claudia Sheinbaum wins Presidential elections in Mexico

Mexico's presidential candidate Claudia Sheinbaum reacts during a press conference after the general elections in Mexico City, Mexico, 03 June 2024. Sheinbaum, a climate scientist and former mayor of Mexico City, is to be Mexico's first female President after she obtained between 58.3 and 60.7 per cent of the votes during the electoral night, according to the preliminary results announced by the National Electoral Institute. EPA-EFE/Mario Guzman

Sheinbaum, who will take office in October after winning a landslide election victory earlier this month, also guaranteed to maintain social welfare programs expanded under her predecessor and mentor President Andres Manuel Lopez Obrador.

The peso extended losses on Sheinbaum's comments, trading down 1.3% against the dollar.

Mexico's incoming president said she thought the planned review in 2026 of the United States-Mexico-Canada Agreement (USMCA) will be "minor."

(Reporting by Raul Cortes Fernandez and Anthony Esposito, Writing by Stephen Eisenhammer)

Newsdeck

DM is much better if you are signed in...

Mexico's Sheinbaum vows to raise minimum wage, build infrastructure, without tax hikes

Comments