Mexico’s ruling Institutional Revolutionary Party paved the way on Saturday for possible tax hikes and an overhaul of state oil giant Pemex as it seeks to spur growth in Latin America’s second-biggest economy. PRI delegates at a congress in Mexico City voted to change the party’s position on refusing to consider the imposition of a value-added tax on food and medicine, and giving the party scope to open up Pemex to more private capital. President Enrique Pena Nieto wanted the changes, which run contrary to many old tenets of the PRI, so he would have more room to maneuver in boosting Mexico’s low tax take and revamping its flagging oil industry.
Mexico’s ruling party opens door to tax, energy changes
