Mexico's Fiscal Reform: Reshaping the system

Mexico's Fiscal Reform: Reshaping the system

Mexico Economy & Policy Corporate & Sovereign Strategy

Announced on September 8, just a few hours after 50,000 protestors marched blocks away against the government’s energy reform plans, the Mexican president Enrique Peña Nieto labeled the package a “social reform”. With the latest proposals, Peña Nieto aims to quell opposition to his reform agenda while keeping the left-wing PRD party on board for the Pact for Mexico, the agreement between Mexico’s three main parties that paves the way for a range of economic reforms. In a nod to the left — and a historic first for Mexico — the measures will create a social safety net: universal social security for workers in the formal sector, unemployment insurance and a pension of $80 per month for the p

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