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

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.

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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.

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