It doesn’t take a swath of polls to tell us that most Mexicans have little belief that the nation’s fortunes will improve significantly under the stewardship of Enrique Peña Nieto, who takes the oath of office as president on Saturday.
As the Institutional Revolutionary Party (PRI) returns to power after more than a decade in opposition, many Mexicans sense a pessimism rarely felt during recent presidential changeovers. But while his lack of intellectual gravitas and ties to the “prehistoric” wing of the party may be questioned, the good-looking 46-year-old actually has a lot going for him – not least an economy on the upswing with the potential for strong growth and the prospect of a friendly Congress that could pass much-needed fiscal and energy reforms. (Mexico collects less tax income than any other OECD nation, while billions of barrels of oil lie untapped in the Gulf of Mexico due to scant investment by state-owned Pemex.)
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