Mexican president-elect slashes his own salaryMexican president-elect slashes his own salary

Mexican President-elect Andres Manuel Lopez Obrador says he plans to earn 40 per cent of what his predecessor makes when he takes office in December as part of an austerity push in government.

Lopez Obrador told reporters yesterday he will take home 108,000 pesos a month, which is USD 5,707 at current exchange rates, and that no public official will be able to earn more than the president during his six-year term.

He reiterated campaign promises to cut back on other taxpayer funded perks for high-level government officials, such as chauffeurs, bodyguards and private medical insurance.