Government budget and revenue in Aguascalientes, Mexico: official figures
The Aguascalientes state government spent 37.8 billion pesos in 2025 according to INEGI's preliminary state public finance statistics, 24,385 pesos per resident, 16th highest of 32 (all 32 governments combined: 24,691 pesos). Spending was up 7.7% on 2024 and up 55.1% on 2018, before adjusting for inflation.
How much does Aguascalientes depend on federal money?
Federal transfers made up 89.3% of the Aguascalientes state government's revenue in 2025 (32.7 billion pesos of 36.6 billion pesos, counting revenue without borrowing), 13th highest share of 32 (all 32 governments combined: 81.0%). In 2024 the share was 88.3%.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much revenue-sharing money does Aguascalientes get from the federal government?
Aguascalientes received 15.2 billion pesos in federal participaciones, the revenue-sharing transfers states may spend freely, in 2025: 9,789 pesos per resident, 16th highest of 32 (all 32 governments combined: 10,102 pesos). The General Participation Fund supplied 10.9 billion pesos of it; the total was up 10.2% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much earmarked federal funding does Aguascalientes receive?
Earmarked federal transfers (aportaciones, including the Ramo 33 funds and reassigned federal resources) brought Aguascalientes 17.5 billion pesos in 2025, 11,294 pesos per resident, 15th highest of 32 (all 32 governments combined: 9,347 pesos). The largest Ramo 33 fund paid to the state government was the education payroll and operating fund (FONE), with 9.2 billion pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much of its own money does Aguascalientes raise?
The Aguascalientes state government's own revenue (taxes, fees, products and other own income) was 3.9 billion pesos in 2025, 10.7% of its revenue without borrowing, 13th lowest share of 32 (all 32 governments combined: 18.1%). It was down 3.0% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much tax does the Aguascalientes government collect?
State taxes raised 2.4 billion pesos in Aguascalientes in 2025, 1,562 pesos per resident, 14th lowest of 32 (all 32 governments combined: 2,402 pesos). The payroll tax (impuesto sobre nomina) supplied 91.0% of tax revenue.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Aguascalientes spend on government salaries?
Personnel costs (servicios personales) took 2.5 billion pesos, or 6.6% of the Aguascalientes state government's spending in 2025, 5th lowest share of 32 (all 32 governments combined: 20.1%). The bill was up 9.1% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Aguascalientes invest in public works?
The Aguascalientes state government spent 1.0 billion pesos on public investment (public works and productive projects) in 2025, 2.8% of its spending, 16th highest share of 32 (all 32 governments combined: 3.4%). In 2024 it spent 1.3 billion pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much money does Aguascalientes give its municipalities?
The Aguascalientes state government passed 6.1 billion pesos to its municipalities in 2025, 16.1% of its spending, 11th lowest share of 31 states (all 31 states: 17.0%). Of this, 4.1 billion pesos was the municipal share of federal participaciones and 2.0 billion pesos Ramo 33 aportaciones.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Aguascalientes pay on its debt each year?
Debt service cost the Aguascalientes state government 459.5 million pesos in 2025, 1.2% of its spending, 7th lowest share of 32 (all 32 governments combined: 5.6%). Interest accounted for 287.3 million pesos and principal repayments for 171.6 million pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much debt does Aguascalientes have?
Debt and financial obligations of the Aguascalientes state government and its public entities registered with Hacienda stood at 7.1 billion pesos on 30 June 2026, 4,561 pesos per resident, 12th highest of 32 (all 32 governments combined: 4,962 pesos). That is up 83.3% from 3.9 billion pesos on 31 December 2025 and 1.1% of all registered state debt.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyWho does Aguascalientes owe money to?
68% of Aguascalientes' registered debt at 30 June 2026 was backed by its federal participaciones as the source of payment. By lender: commercial banks 72%, development banks 28%.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyWhat interest rate does Aguascalientes pay on its debt?
The weighted average interest rate on Aguascalientes' registered debt was 7.47% at 30 June 2026, 2nd highest of 31 entities with registered debt (overall: 7.21%), and the weighted average remaining term was 15.4 years, 12th longest of 31.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyIs Aguascalientes' debt level sustainable?
In Hacienda's debt Alert System for the second quarter of 2026, Aguascalientes' debt and obligations equalled 40.8% of its unconditional revenue (ingresos de libre disposicion), in the low range (the low range runs up to 100%) and 11th highest of 31 entities measured. Debt service took 3.1% of that revenue, in the low range (low up to 7.5%).
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyHow Aguascalientes compares with other states
State government spending per person (2025)
Aguascalientes ranks 16 of 32, highest first. INEGI EFIPEM, 2025 preliminary figures: total spending less the closing cash balance, divided by CONAPO mid-2025 population; Mexico City from the city government file
| Rank | Region | State government spending per person |
|---|---|---|
| 13 | Guerrero | 24,989 pesos |
| 14 | Oaxaca | 24,968 pesos |
| 15 | Quintana Roo | 24,447 pesos |
| 16 | Aguascalientes | 24,385 pesos |
| 17 | Veracruz | 24,214 pesos |
| 18 | Chiapas | 23,912 pesos |
| 19 | San Luis Potosi | 23,666 pesos |
Federal transfers as a share of state revenue (2025)
Aguascalientes ranks 13 of 32, highest first. Participaciones plus aportaciones as a share of revenue excluding financing (borrowing and deficit entries), 2025 preliminary
| Rank | Region | Federal transfers as a share of state revenue |
|---|---|---|
| 10 | Hidalgo | 90.1% |
| 11 | Zacatecas | 89.9% |
| 12 | Colima | 89.6% |
| 13 | Aguascalientes | 89.3% |
| 14 | San Luis Potosi | 89.2% |
| 15 | Nayarit | 88.7% |
| 16 | Durango | 88.0% |
Own revenue as a share of state revenue (2025)
Aguascalientes ranks 20 of 32, highest first. Taxes, fees (derechos), products, aprovechamientos, improvement levies and social security contributions, as a share of revenue excluding financing, 2025 preliminary
| Rank | Region | Own revenue as a share of state revenue |
|---|---|---|
| 17 | Durango | 12.0% |
| 18 | Nayarit | 10.9% |
| 19 | San Luis Potosi | 10.8% |
| 20 | Aguascalientes | 10.7% |
| 21 | Colima | 10.4% |
| 22 | Zacatecas | 10.1% |
| 23 | Hidalgo | 9.9% |
State taxes collected per person (2025)
Aguascalientes ranks 19 of 32, highest first. Tax revenue of the state government (chapter Impuestos), 2025 preliminary, per resident (CONAPO mid-2025)
| Rank | Region | State taxes collected per person |
|---|---|---|
| 16 | Guanajuato | 1,805 pesos |
| 17 | Yucatan | 1,787 pesos |
| 18 | Jalisco | 1,671 pesos |
| 19 | Aguascalientes | 1,562 pesos |
| 20 | Zacatecas | 1,512 pesos |
| 21 | Tabasco | 1,409 pesos |
| 22 | San Luis Potosi | 1,357 pesos |
Federal participaciones (revenue sharing) per person (2025)
Aguascalientes ranks 16 of 32, highest first. Participaciones federales received in 2025 (preliminary) per resident
| Rank | Region | Federal participaciones (revenue sharing) per person |
|---|---|---|
| 13 | Jalisco | 9,971 pesos |
| 14 | Queretaro | 9,970 pesos |
| 15 | Nayarit | 9,884 pesos |
| 16 | Aguascalientes | 9,789 pesos |
| 17 | Sinaloa | 9,779 pesos |
| 18 | Durango | 9,659 pesos |
| 19 | San Luis Potosi | 9,489 pesos |
Federal aportaciones (earmarked transfers) per person (2025)
Aguascalientes ranks 15 of 32, highest first. Aportaciones federales (Ramo 33 and reassigned federal resources) received in 2025 (preliminary) per resident
| Rank | Region | Federal aportaciones (earmarked transfers) per person |
|---|---|---|
| 12 | San Luis Potosi | 11,606 pesos |
| 13 | Tlaxcala | 11,493 pesos |
| 14 | Hidalgo | 11,417 pesos |
| 15 | Aguascalientes | 11,294 pesos |
| 16 | Michoacan | 10,917 pesos |
| 17 | Sonora | 10,790 pesos |
| 18 | Morelos | 10,449 pesos |
Personnel costs as a share of state spending (2025)
Aguascalientes ranks 28 of 32, highest first. Chapter Servicios personales as a share of spending less the closing cash balance, 2025 preliminary
| Rank | Region | Personnel costs as a share of state spending |
|---|---|---|
| 25 | Sinaloa | 9.8% |
| 26 | Oaxaca | 8.1% |
| 27 | Baja California Sur | 7.7% |
| 28 | Aguascalientes | 6.6% |
| 29 | Hidalgo | 5.3% |
| 30 | Quintana Roo | 5.2% |
| 31 | Morelos | 4.3% |
Public investment as a share of state spending (2025)
Aguascalientes ranks 16 of 32, highest first. Chapter Inversion publica (public works and productive projects) as a share of spending, 2025 preliminary
| Rank | Region | Public investment as a share of state spending |
|---|---|---|
| 13 | Baja California | 3.4% |
| 14 | Queretaro | 3.4% |
| 15 | Puebla | 2.9% |
| 16 | Aguascalientes | 2.8% |
| 17 | Zacatecas | 2.6% |
| 18 | Chiapas | 2.5% |
| 19 | Nayarit | 2.5% |
Share of state spending passed to municipalities (2025)
Aguascalientes ranks 21 of 31, highest first. 31 states; Mexico City has borough governments (alcaldias) instead of municipalities and is not ranked
| Rank | Region | Share of state spending passed to municipalities |
|---|---|---|
| 18 | San Luis Potosi | 16.6% |
| 19 | Quintana Roo | 16.3% |
| 20 | Queretaro | 16.2% |
| 21 | Aguascalientes | 16.1% |
| 22 | Nayarit | 15.9% |
| 23 | Tamaulipas | 15.9% |
| 24 | Baja California | 15.4% |
Debt service as a share of state spending (2025)
Aguascalientes ranks 26 of 32, highest first. Chapter Deuda publica (interest, principal repayments, fees and prior-year arrears) as a share of spending, 2025 preliminary
| Rank | Region | Debt service as a share of state spending |
|---|---|---|
| 23 | Oaxaca | 1.7% |
| 24 | Morelos | 1.6% |
| 25 | Puebla | 1.5% |
| 26 | Aguascalientes | 1.2% |
| 27 | Hidalgo | 1.2% |
| 28 | Sinaloa | 1.1% |
| 29 | Campeche | 1.1% |
Registered state debt per person (2026-06-30)
Aguascalientes ranks 12 of 32, highest first. Financing and obligations of the state government and its public entities in the Registro Publico Unico at 30 June 2026, per resident (CONAPO mid-2026)
| Rank | Region | Registered state debt per person |
|---|---|---|
| 9 | Baja California | 5,153 pesos |
| 10 | Nayarit | 4,918 pesos |
| 11 | Colima | 4,624 pesos |
| 12 | Aguascalientes | 4,561 pesos |
| 13 | Michoacan | 4,368 pesos |
| 14 | Tamaulipas | 4,313 pesos |
| 15 | Zacatecas | 3,592 pesos |
Debt as a share of unconditional revenue (Alert System indicator 1) (2026-Q2)
Aguascalientes ranks 11 of 31, highest first. SHCP Sistema de Alertas, second quarter of 2026: public debt and obligations over ingresos de libre disposicion; Tlaxcala has no registered debt and is not measured
| Rank | Region | Debt as a share of unconditional revenue (Alert System indicator 1) |
|---|---|---|
| 8 | Nayarit | 47.2% |
| 9 | Veracruz | 47.1% |
| 10 | Colima | 42.4% |
| 11 | Aguascalientes | 40.8% |
| 12 | Baja California | 40.6% |
| 13 | Mexico City | 38.5% |
| 14 | Tamaulipas | 37.5% |
Debt service as a share of unconditional revenue (Alert System indicator 2) (2026-Q2)
Aguascalientes ranks 22 of 31, highest first. SHCP Sistema de Alertas, second quarter of 2026: debt and obligation service over ingresos de libre disposicion
| Rank | Region | Debt service as a share of unconditional revenue (Alert System indicator 2) |
|---|---|---|
| 19 | Morelos | 3.5% |
| 20 | Queretaro | 3.4% |
| 21 | Sinaloa | 3.4% |
| 22 | Aguascalientes | 3.1% |
| 23 | Jalisco | 3.1% |
| 24 | State of Mexico | 3.0% |
| 25 | Campeche | 2.7% |
Average interest rate on registered state debt (2026-06-30)
Aguascalientes ranks 2 of 31, highest first. Weighted average interest rate on the financing and obligations of each state and its public entities at 30 June 2026
| Rank | Region | Average interest rate on registered state debt |
|---|---|---|
| 1 | Zacatecas | 7.71% |
| 2 | Aguascalientes | 7.47% |
| 3 | Nayarit | 7.45% |
| 4 | Colima | 7.45% |
| 5 | Guerrero | 7.44% |
| 6 | Mexico City | 7.42% |
| 7 | Baja California Sur | 7.42% |
More on Aguascalientes: overview · economy and jobs · health · education and schools · poverty and living standards · Mexico
Sources
- Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas: Financiamientos y obligaciones de entidades federativas y sus entes publicos, por fuente de pago: balances at 30 June 2026 (millions of pesos), from the Registro Publico Unico, read 23 October 2026 · saved copy (SHA-256 eb8f66109730…)
- Instituto Nacional de Estadistica y Geografia (INEGI): Estadistica de Finanzas Publicas Estatales y Municipales (EFIPEM), state governments, annual open data 1989-2025 (2025 preliminary): revenue and spending of each state government by chapter, concept and item, in pesos, read 23 October 2026 · saved copy (SHA-256 c8ace2050ce2…)
- Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas: Financiamientos y obligaciones de entidades federativas y sus entes publicos por tipo de acreedor y fuente de pago: balances at 30 June 2026 (millions of pesos), read 23 October 2026 · saved copy (SHA-256 eae1d48cad0e…)
- Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas: Tasa de interes promedio ponderada por entidad federativa y sus entes publicos, at 30 June 2026, read 23 October 2026 · saved copy (SHA-256 41392693e6b3…)
- Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas: Sistema de Alertas: evaluacion del nivel de endeudamiento de las Entidades Federativas, 2T-2026 (indicators and ranges), read 23 October 2026 · saved copy (SHA-256 ada72d2140d3…)
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