Mexico’s General Elections: Continuity likely but headwinds ahead
- 21 May 2024 (10 min read)
Anticipation is mounting for Mexico’s general elections on 2 June as citizens will cast their votes for a new president and legislature, as well as for numerous local government officials. Despite high approval ratings, incumbent President Andrés Manuel López Obrador (better known as AMLO) cannot seek re-election under the country’s rules limiting the head of state to one six-year term. The incoming president is scheduled to take office on December 1 and given current polling, we could see the election usher in Mexico’s first female leader.
These elections will be nothing short of monumental, with over 20,000 positions up for grabs, including 628 seats in Congress including 128 senators and 500 federal deputies. Overall, it signals that there will be significant changes to Mexico's political landscape. Amid pressing issues such as the state of the energy sector, nearshoring, and the forthcoming United States-Mexico-Canada Agreement (USMCA) review in 2026, the outcome could hold profound implications. Additionally, with both the US and Mexican presidential elections coinciding for the first time in over a decade, the interplay between these two nations adds complexity to this crucial electoral cycle.
Disclaimer
The information on this website is intended for investors domiciled in Switzerland.
AXA Investment Managers Switzerland Ltd (AXA IM) is not liable for unauthorised use of the website.
This website is for advertising and informational purpose only. The published information and expression of opinions are provided for personal use only. The information, data, figures, opinions, statements, analyses, forecasts, simulations, concepts and other data provided by AXA IM in this document are based on our knowledge and experience at the time of preparation and are subject to change without notice.
AXA IM excludes any warranty (explicit or implicit) for the accuracy, completeness and up-to-dateness of the published information and expressions of opinion. In particular, AXA IM is not obliged to remove information that is no longer up to date or to expressly mark it a such. To the extent that the data contained in this document originates from third parties, AXA IM is not responsible for the accuracy, completeness, up-to-dateness and appropriateness of such data, even if only such data is used that is deemed to be reliable.
The information on the website of AXA IM does not constitute a decision aid for economic, legal, tax or other advisory questions, nor may investment or other decisions be made solely on the basis of this information. Before any investment decision is made, detailed advice should be obtained that is geared to the client's situation.
Past performance or returns are neither a guarantee nor an indicator of the future performance or investment returns. The value and return on an investment is not guaranteed. It can rise and fall and investors may even incur a total loss.
AXA Investment Managers Switzerland Ltd.