Overview

• The 10.1 trillion‑peso package dedicates about 987 billion pesos to social programs, presented by Finance Minister Édgar Amador as a socially focused budget.
• Officials said 46% of Pemex’s debt matures in the current term and 26% falls in 2025–2026, with federal backing continuing through 2026 and a goal for the company to operate without support in 2027.
• The proposal raises import duties on more than 1,400 tariff lines to protect domestic industry, with Hacienda estimating roughly 70 billion pesos in additional revenue under the Plan México framework.
• Fiscal changes for banks include removing the deductibility of payments tied to IPAB/Fobaproa and proposed tax treatment for potentially uncollectible loans, prompting concern from lenders and regulators.
• Economists warn the package implies a wider deficit and higher public‑debt ratios near the low‑50s percent of GDP, as spending shifts include a large increase for Energy and a real cut to the civilian Security ministry.