Mexico’s president says he will enact energy reform soon

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A demonstrators waves Mexican national flags during a protest against an energy reform and subway fare hike at Reforma Avenue in Mexico CityPresident Enrique Pena Nieto said on Monday he would soon enact a sweeping overhaul of Mexico's ailing energy sector which is aimed at boosting growth in Latin America's No. 2 economy. The reform, which changes the constitution to allow private companies to operate independently or partner with state oil giant Pemex via new types of contracts, won approval from a majority of Mexican states on Sunday, after a tense debate in Congress. "It will be necessary to wait for a declaration from Congress's permanent committee, which will surely happen in the coming days, and once that happens, I will immediately enact the reform," Pena Nieto said while on a state visit to Turkey. The energy overhaul is part of a raft of reforms pushed through Congress this year by Pena Nieto, including bids to boost competition in the telecoms sector and jumpstart lending.

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