Soon after Mexico’s new leader puts on the presidential sash in October, she — for it will probably be a woman — will have to contend with one all-encompassing issue: how to pay for her plans.
The two leading candidates, former climate scientist Claudia Sheinbaum and self-made businesswoman Xóchitl Gálvez, have said they don’t think tax hikes are needed.
Yet the winner — and polls show the ruling party’s Sheinbaum holds a comfortable lead — will have to face slashing the largest budget deficit since the 1980s, after current President Andrés Manuel López Obrador abandoned austerity and went on a spending spree.
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