Mexico’s Lopez Obrador sets $7.5 billion for youths, elderly

MEXICO CITY (AP) — Mexican President-elect Andres Manuel Lopez Obrador is promising that jobless youths, the elderly and Mexico’s business sector will be the biggest beneficiaries of his first year in office.

Lopez Obrador is pledging to pay the salaries of apprentices employed by Mexican companies as part of a $5 billion packages of scholarships and job training.

The once-fiery leftist met with Mexican businessmen on Wednesday and pledged another $2 billion to extend and increase old-age supplementary payments to the elderly nationwide.

Lopez Obrador said the two programs will be the central themes of his first year in office. He said the $7.5 billion package will be paid for by government cost-cutting, “even if we are left without a shirt on our backs.”

Lopez Obrador was elected in a landslide Sunday.

This article provided by NewsEdge.