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AMLO Energy Reform Proposal Set For September

MEXICO
  • In the state of the union address, President AMLO said he'll present a constitutional energy reform proposal this month. The reform will be the first of three major constitutional amendments planned before the end of the his term in 2024 and will restore the dominance of the state utility CFE, Obrador said.
    • The amendment must be approved by congress, where it is expected to face an uphill battle: although the legislature is still stacked with members of the president's own party, that support was watered down by the mid-term elections in June.
  • AMLO highlighted his campaign against government corruption and downplayed the work that remains to be done in the areas of security and reducing poverty in his third state of the nation address Wednesday.
    • The President added Mexico should recover pre-pandemic job levels in two months and is 192k jobs short of that level.
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