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Mexico's president shakes up cabinet

Xinhua, September 8, 2016 Adjust font size:

Mexico's President Enrique Pena Nieto on Wednesday announced a cabinet shakeup, just days after the much-criticized visit of U.S. Republican presidential candidate Donald Trump.

Pena Nieto named Jose Antonio Meade to be his new Finance minister, after Luis Videgaray -- said to have been behind the invitations to Trump and his Democratic rival Hillary Clinton -- handed in his resignation.

As Finance Minister, Meade's first task will be to present the 2017 budget to Congress for approval in coming days.

Meade, who had been at the helm of the Social Development Ministry, has served as head of finance before, namely during the presidential term of Felipe Calderon (2006-20012), and has also served as minister of foreign affairs (under Pena Nieto) and energy (under Calderon).

Pena Nieto called on Meade to continue the government's policy of fiscal responsibility "to contain and stabilize the growth of the public-sector debt as a share of the gross domestic product (GDP)."

He indicated Meade will have to make cuts in 2017 public spending to ensure macroeconomic stability.

However, "it is up to the government to tighten its belt, without affecting the people," said Pena Nieto, adding "there will be no new taxes nor increases to existing ones."

Meade must also "give priority to investment projects and social programs that have been most effective in fighting poverty," said the president.

Taking over for Meade at Social Development will be Luis Enrique Miranda, formerly deputy minister at the Ministry of the Interior.

According to news reports, Trump's lightning visit to Mexico was widely seen as a diplomatic failure that only served to strengthen the candidate's standing among potential voters by making him seem more presidential.

Meanwhile, Mexico was criticized for appearing to meddle in the U.S. election process, and Pena Nieto was forced to repeatedly defend the decision to invite the candidates.

In a recent interview with a U.S. news network, Clinton said she would not accept the invitation, dealing another blow to Mexico. Enditem