Background on Mexico’s Fiscal Performance
Mexico concluded 2025 with a fiscal deficit of 4.3% of the Gross Domestic Product (GDP), according to the Mexican Ministry of Finance, reported on Friday. This figure aligns with the previously estimated deficit by the ministry.
Initial Projection vs. Actual Outcome
Initially, the Mexican government had projected a fiscal deficit of 3.9% of GDP for the previous year. However, they revised this target upwards throughout the year.
In 2024, the deficit closed at 5.8%, as per the figures disclosed by the Finance Ministry in its quarterly report on public finances.
Public Debt Trends
The broad public debt, stated the ministry, reached 52.6% of GDP by the end of 2025, compared to 52% at the close of the preceding year.
Pemex’s Debt Reduction
The Finance Ministry also reported that the debt of the state-owned petroleum company, Pemex, was reduced by 10.2 billion US dollars by the end of 2025.
Pemex executed several liability management operations to bring down its debt from approximately 100 billion US dollars.
Key Questions and Answers
- What was Mexico’s fiscal deficit at the end of 2025? Mexico’s fiscal deficit closed at 4.3% of the Gross Domestic Product (GDP) by the end of 2025.
- How did the initial projection compare to the actual fiscal deficit for 2025? The Mexican government initially projected a fiscal deficit of 3.9% of GDP for 2025, but later revised the target upwards.
- What was Mexico’s broad public debt as a percentage of GDP at the end of 2025? Mexico’s broad public debt reached 52.6% of GDP by the end of 2025.
- How did Pemex’s debt change by the end of 2025? Pemex’s debt was reduced by 10.2 billion US dollars by the end of 2025 through various liability management operations.
