Pemex debt payment puts "pressure" on the 2026 budget: Ministry of Finance

MEXICO CITY.- This Wednesday morning, during the regular press conference of the president of Mexico , Claudia Sheinbaum Pardo , Edgar Amador Zamora , head of the Ministry of Finance and Public Credit (SHCP), participated.

In his speech, the Secretary of Finance admitted that one of the main "pressures" on the budget is the payment of Pemex's debt .

Amador Zamora, when presenting the general lines of the 2026 Economic Package, accused Pemex of going into debt during neoliberal periods , but said that "a very solid recovery" began under former President Andrés Manuel López Obrador .

#LaMañaneraDelPueblo | Edgar Amador noted that one of the biggest challenges of the 2025-2026 budget is the rescue of Pemex: 46% of its debt matures during this six-year term, and 26% is concentrated in those two years. pic.twitter.com/rK0PkmshgE

— Alejandro Cacho (@Cachoperiodista) September 10, 2025

"What is one of the factors behind this gradual fiscal convergence? The Pemex bailout (…) One of the main pressures on the budget we have faced in 2025 and 2026 is the Pemex bailout, the payment of Pemex's debt," said the head of the SHCP.

In the Treasury Room, Édgar Amador Zamora explained the evolution of Pemex's debt balance: "A 130% increase in a decade." "This is the bailout we're providing to Pemex to help the company meet its debt maturities, the debt it contracted during the neoliberal periods, and it's demanding budgetary resources from us in this situation, under this administration," he said.

He indicated that this debt must be paid and that the maturities are grouped precisely in 2025 and 2026. He charged that while Petróleos Mexicanos' debt was increasing, gasoline and diesel production was declining.

"Of Pemex's historical debt balance, 46% is due during this administration; 26% of the maturities fall on the 25th and 26th. Right? That's what explains this significant pressure we're under on Pemex's famous budget line, and it's putting pressure on our budgets and metrics," he explained.

"Where did all that financing go? If gasoline and diesel production plummets, and our own revenues plummet?" he asked.

The Secretary of Finance stated that there is "a great effort" within Pemex's plan to recover petrochemicals.

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