Government budget and revenue in Michoacan, Mexico: official figures
The Michoacan state government spent 108.7 billion pesos in 2025 according to INEGI's preliminary state public finance statistics, 21,554 pesos per resident, 5th lowest of 32 (all 32 governments combined: 24,691 pesos). Spending was up 3.9% on 2024 and up 45.0% on 2018, before adjusting for inflation.
How much does Michoacan depend on federal money?
Federal transfers made up 92.1% of the Michoacan state government's revenue in 2025 (97.5 billion pesos of 105.8 billion pesos, counting revenue without borrowing), 4th highest share of 32 (all 32 governments combined: 81.0%). In 2024 the share was 92.3%.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much revenue-sharing money does Michoacan get from the federal government?
Michoacan received 42.4 billion pesos in federal participaciones, the revenue-sharing transfers states may spend freely, in 2025: 8,401 pesos per resident, 5th lowest of 32 (all 32 governments combined: 10,102 pesos). The General Participation Fund supplied 32.1 billion pesos of it; the total was up 2.3% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much earmarked federal funding does Michoacan receive?
Earmarked federal transfers (aportaciones, including the Ramo 33 funds and reassigned federal resources) brought Michoacan 55.1 billion pesos in 2025, 10,917 pesos per resident, 16th 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 25.1 billion pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much of its own money does Michoacan raise?
The Michoacan state government's own revenue (taxes, fees, products and other own income) was 8.3 billion pesos in 2025, 7.9% of its revenue without borrowing, 5th lowest share of 32 (all 32 governments combined: 18.1%). It was up 3.9% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much tax does the Michoacan government collect?
State taxes raised 4.1 billion pesos in Michoacan in 2025, 815 pesos per resident, 5th lowest of 32 (all 32 governments combined: 2,402 pesos). The payroll tax (impuesto sobre nomina) supplied 92.0% of tax revenue.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Michoacan spend on government salaries?
Personnel costs (servicios personales) took 40.4 billion pesos, or 37.2% of the Michoacan state government's spending in 2025, 2nd highest share of 32 (all 32 governments combined: 20.1%). The bill was up 3.8% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Michoacan invest in public works?
The Michoacan state government spent 6.1 billion pesos on public investment (public works and productive projects) in 2025, 5.6% of its spending, 5th highest share of 32 (all 32 governments combined: 3.4%). In 2024 it spent 3.8 billion pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much money does Michoacan give its municipalities?
The Michoacan state government passed 18.8 billion pesos to its municipalities in 2025, 17.3% of its spending, 13th highest share of 31 states (all 31 states: 17.0%). Of this, 9.6 billion pesos was the municipal share of federal participaciones and 8.4 billion pesos Ramo 33 aportaciones.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Michoacan pay on its debt each year?
Debt service cost the Michoacan state government 3.1 billion pesos in 2025, 2.9% of its spending, 14th highest share of 32 (all 32 governments combined: 5.6%). Interest accounted for 2.1 billion pesos and principal repayments for 1.0 billion pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much debt does Michoacan have?
Debt and financial obligations of the Michoacan state government and its public entities registered with Hacienda stood at 22.2 billion pesos on 30 June 2026, 4,368 pesos per resident, 13th highest of 32 (all 32 governments combined: 4,962 pesos). That is down 3.2% from 23.0 billion pesos on 31 December 2025 and 3.3% of all registered state debt.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyWho does Michoacan owe money to?
85% of Michoacan's registered debt at 30 June 2026 was backed by its federal participaciones as the source of payment. By lender: commercial banks 52%, development banks 48%.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyWhat interest rate does Michoacan pay on its debt?
The weighted average interest rate on Michoacan's registered debt was 7.35% at 30 June 2026, 9th highest of 31 entities with registered debt (overall: 7.21%), and the weighted average remaining term was 14.6 years, 16th longest of 31.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyIs Michoacan's debt level sustainable?
In Hacienda's debt Alert System for the second quarter of 2026, Michoacan's debt and obligations equalled 51.9% of its unconditional revenue (ingresos de libre disposicion), in the low range (the low range runs up to 100%) and 7th highest of 31 entities measured. Debt service took 4.3% 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 Michoacan compares with other states
State government spending per person (2025)
Michoacan ranks 28 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 |
|---|---|---|
| 25 | Tlaxcala | 22,279 pesos |
| 26 | Tamaulipas | 22,161 pesos |
| 27 | Hidalgo | 21,763 pesos |
| 28 | Michoacan | 21,554 pesos |
| 29 | Morelos | 20,815 pesos |
| 30 | Jalisco | 20,391 pesos |
| 31 | Guanajuato | 19,733 pesos |
Federal transfers as a share of state revenue (2025)
Michoacan ranks 4 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 |
|---|---|---|
| 1 | Guerrero | 96.0% |
| 2 | Oaxaca | 93.5% |
| 3 | Tlaxcala | 92.8% |
| 4 | Michoacan | 92.1% |
| 5 | Veracruz | 91.8% |
| 6 | Chiapas | 90.8% |
| 7 | Morelos | 90.8% |
Own revenue as a share of state revenue (2025)
Michoacan ranks 28 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 |
|---|---|---|
| 25 | Tabasco | 9.5% |
| 26 | Chiapas | 9.2% |
| 27 | Morelos | 8.8% |
| 28 | Michoacan | 7.9% |
| 29 | Veracruz | 6.9% |
| 30 | Tlaxcala | 6.7% |
| 31 | Oaxaca | 6.5% |
State taxes collected per person (2025)
Michoacan ranks 28 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 |
|---|---|---|
| 25 | Veracruz | 990 pesos |
| 26 | Hidalgo | 952 pesos |
| 27 | Guerrero | 815 pesos |
| 28 | Michoacan | 815 pesos |
| 29 | Tlaxcala | 779 pesos |
| 30 | Morelos | 752 pesos |
| 31 | Oaxaca | 558 pesos |
Federal participaciones (revenue sharing) per person (2025)
Michoacan ranks 28 of 32, highest first. Participaciones federales received in 2025 (preliminary) per resident
| Rank | Region | Federal participaciones (revenue sharing) per person |
|---|---|---|
| 25 | Guanajuato | 9,012 pesos |
| 26 | Oaxaca | 8,758 pesos |
| 27 | Morelos | 8,613 pesos |
| 28 | Michoacan | 8,401 pesos |
| 29 | Guerrero | 8,338 pesos |
| 30 | Puebla | 8,336 pesos |
| 31 | Chiapas | 8,277 pesos |
Federal aportaciones (earmarked transfers) per person (2025)
Michoacan ranks 16 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 |
|---|---|---|
| 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 |
| 19 | Veracruz | 10,341 pesos |
Personnel costs as a share of state spending (2025)
Michoacan ranks 2 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 |
|---|---|---|
| 1 | Zacatecas | 38.2% |
| 2 | Michoacan | 37.2% |
| 3 | Puebla | 36.5% |
| 4 | Veracruz | 36.4% |
| 5 | Tamaulipas | 36.3% |
| 6 | Tabasco | 33.3% |
| 7 | Durango | 33.1% |
Public investment as a share of state spending (2025)
Michoacan ranks 5 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 |
|---|---|---|
| 2 | Nuevo Leon | 8.4% |
| 3 | Hidalgo | 6.3% |
| 4 | Tlaxcala | 5.8% |
| 5 | Michoacan | 5.6% |
| 6 | Coahuila | 5.3% |
| 7 | Sinaloa | 4.3% |
| 8 | Jalisco | 4.1% |
Share of state spending passed to municipalities (2025)
Michoacan ranks 13 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 |
|---|---|---|
| 10 | Veracruz | 18.1% |
| 11 | Tlaxcala | 18.0% |
| 12 | Hidalgo | 17.3% |
| 13 | Michoacan | 17.3% |
| 14 | Guanajuato | 17.2% |
| 15 | Zacatecas | 17.2% |
| 16 | State of Mexico | 17.0% |
Debt service as a share of state spending (2025)
Michoacan ranks 14 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 |
|---|---|---|
| 11 | Quintana Roo | 4.4% |
| 12 | State of Mexico | 3.4% |
| 13 | Tamaulipas | 3.4% |
| 14 | Michoacan | 2.9% |
| 15 | Baja California Sur | 2.6% |
| 16 | Baja California | 2.5% |
| 17 | Nayarit | 2.1% |
Registered state debt per person (2026-06-30)
Michoacan ranks 13 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 |
|---|---|---|
| 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 |
| 16 | Yucatan | 3,590 pesos |
Debt as a share of unconditional revenue (Alert System indicator 1) (2026-Q2)
Michoacan ranks 7 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) |
|---|---|---|
| 4 | Sonora | 72.0% |
| 5 | Quintana Roo | 63.5% |
| 6 | Durango | 54.2% |
| 7 | Michoacan | 51.9% |
| 8 | Nayarit | 47.2% |
| 9 | Veracruz | 47.1% |
| 10 | Colima | 42.4% |
Debt service as a share of unconditional revenue (Alert System indicator 2) (2026-Q2)
Michoacan ranks 15 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) |
|---|---|---|
| 12 | Colima | 4.5% |
| 13 | Yucatan | 4.5% |
| 14 | Zacatecas | 4.4% |
| 15 | Michoacan | 4.3% |
| 16 | Tamaulipas | 3.9% |
| 17 | Guanajuato | 3.7% |
| 18 | Oaxaca | 3.7% |
Average interest rate on registered state debt (2026-06-30)
Michoacan ranks 9 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 |
|---|---|---|
| 6 | Mexico City | 7.42% |
| 7 | Baja California Sur | 7.42% |
| 8 | Durango | 7.40% |
| 9 | Michoacan | 7.35% |
| 10 | Baja California | 7.34% |
| 11 | Coahuila | 7.32% |
| 12 | State of Mexico | 7.31% |
More on Michoacan: 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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