Mexico’s net public debt stood at 49.9% of GDP in the third quarter, above the proportion of 49.3% in the same period last year, as revealed this Thursday by the Ministry of Finance and Public Credit (SHCP).
In its ‘Report on the Economic Situation, Public Finances and Public Debt as of the third quarter of 2025’, the Government recorded a total net debt of 18.28 trillion pesos in the first nine months of the year.
This represents an increase of more than 8.8% compared to the 16.88 billion pesos that the Treasury reported in June 2024.
“Public debt remained at a low and stable level, 49.9% of GDP, below the 51.3% observed in December 2024,” the SHCP said in a statement.
The agency noted that the solidity of public finances “has allowed it to maintain access to financing on favorable conditions and preserve the investment grade before the main rating agencies.”
You may be interested in:
Mexico’s economy contracts 0.3% in the third quarter due to a slowdown in industrial activity
The report also showed, for the first nine months of the year, an annual increase of 9.2% in real terms in total budgetary revenues, which amounted to 4.61 trillion pesos, “the highest growth for a similar period since 2016.”
“This performance was explained by the sustained progress in tax collection, driven by an administration focused on expanding the tax base and combating smuggling.”
According to the Treasury, tax collection increased 7%, and within this area, income from ISR increased 6.1% and VAT the increase was 6.5%.
On the other hand, net budget spending rose by 1% compared to the first nine months of 2024, up to 7.03 trillion pesos.
The figures are published after knowing the timely estimate of GDP in the third quarter, which contracted 0.3% quarterly, and 0.3% annually, according to seasonally adjusted figures from Inegi.
According to the consensus of private analysts, GDP would grow only 0.5%, while the Government estimates an increase in a range of 1.5% to 2.3%.
With information from EFE.
Follow the information on the economy and finances in our specialized section
