June 29 (Bloomberg) -- Mexican President Felipe Calderon’s National Action Party may lose its position as the biggest political group in the lower house of Congress in July 5 elections after the economy shrank the most since 1995.
The economy is the most important issue for 40 percent of Mexicans, according to a Consulta Mitofsky poll, up from 17 percent when Calderon took office in 2006. That’s bad news for Calderon amid record unemployment and predictions by Goldman Sachs Group Inc. that the economy will shrink the most since 1932 this year, said Jesus Cantu, a public administration professor at the Monterrey Technological Institute in Monterrey.
Calderon’s unfulfilled campaign pledge to create jobs may doom legislation he backs to change labor laws, raise fines for monopolies and modify fiscal rules to collect more taxes. The president also wants lawmakers to unite local and state police forces under federal control to streamline the fight against narcotics trafficking and reduce corruption. To continue click here...
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