(Bloomberg) — Mexico’s President Andres Manuel Lopez Obrador said cash injections to state oil company Petroleos Mexicanos should continue after President-Elect Claudia Sheinbaum takes power in October.
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Continuing transfers to Pemex is “best for the nation,” he told reporters in Mexico City, adding that these payments helped cut the company’s debt to under $100 billion.
The president, known as AMLO, did not elaborate on how Sheinbaum should support public companies, but he celebrated the state-led economic model he said helped boost crude production and electricity generation by state-run CFE.
“The president-elect agrees with what we have established, that these public companies are strategic,” said Lopez Obrador. “There are those who are waiting for a turn or a return to neoliberal policy, but they should accept that our economic policy will continue.”
–With assistance from Maya Averbuch.
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