📊 Sheinbaum’s Victory and Inherited Debt
Claudia Sheinbaum’s historic victory comes with the challenge of addressing a $100B+ deficit.
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Politics 💰
On Sunday, Claudia Sheinbaum made history.
With just shy of 60% of the total vote, the 61-year old former head of Mexico City became the first woman ever elected president in Mexico. She will take office on the 1st of October, replacing her political ally and outgoing president Andrés Manuel López Obrador.
Sheinbaum will enter office with the support of the over 33M people who voted for her and the backing of López Obrador’s hegemonic MORENA party. But she’ll have lots of challenges facing her.
One big one is tackling Mexico’s fiscal deficit, which has steadily climbed leading up to this year’s massive general election. The country is over $100B in the red, a deficit reflcting more than 5% of total GDP. This figure is the highest it’s been in over three decades.
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