Government budget and revenue in Morelos, Mexico: official figures
The Morelos state government spent 42.8 billion pesos in 2025 according to INEGI's preliminary state public finance statistics, 20,815 pesos per resident, 4th lowest of 32 (all 32 governments combined: 24,691 pesos). Spending was up 3.3% on 2024 and up 30.3% on 2018, before adjusting for inflation.
How much does Morelos depend on federal money?
Federal transfers made up 90.8% of the Morelos state government's revenue in 2025 (39.2 billion pesos of 43.2 billion pesos, counting revenue without borrowing), 7th highest share of 32 (all 32 governments combined: 81.0%). In 2024 the share was 92.2%.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much revenue-sharing money does Morelos get from the federal government?
Morelos received 17.7 billion pesos in federal participaciones, the revenue-sharing transfers states may spend freely, in 2025: 8,613 pesos per resident, 6th lowest of 32 (all 32 governments combined: 10,102 pesos). The General Participation Fund supplied 13.6 billion pesos of it; the total was up 6.7% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much earmarked federal funding does Morelos receive?
Earmarked federal transfers (aportaciones, including the Ramo 33 funds and reassigned federal resources) brought Morelos 21.5 billion pesos in 2025, 10,449 pesos per resident, 15th lowest 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 11.1 billion pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much of its own money does Morelos raise?
The Morelos state government's own revenue (taxes, fees, products and other own income) was 3.8 billion pesos in 2025, 8.8% of its revenue without borrowing, 6th lowest share of 32 (all 32 governments combined: 18.1%). It was up 23.5% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much tax does the Morelos government collect?
State taxes raised 1.5 billion pesos in Morelos in 2025, 752 pesos per resident, 3rd lowest of 32 (all 32 governments combined: 2,402 pesos). The payroll tax (impuesto sobre nomina) supplied 78.7% of tax revenue.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Morelos spend on government salaries?
Personnel costs (servicios personales) took 1.9 billion pesos, or 4.3% of the Morelos state government's spending in 2025, 2nd lowest share of 32 (all 32 governments combined: 20.1%). The bill was up 10.8% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Morelos invest in public works?
The Morelos state government spent 432.5 million pesos on public investment (public works and productive projects) in 2025, 1.0% of its spending, 2nd lowest share of 32 (all 32 governments combined: 3.4%). In 2024 it spent 496.6 million pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much money does Morelos give its municipalities?
The Morelos state government passed 8.1 billion pesos to its municipalities in 2025, 18.9% of its spending, 8th highest share of 31 states (all 31 states: 17.0%). Of this, 4.4 billion pesos was the municipal share of federal participaciones and 3.1 billion pesos Ramo 33 aportaciones.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Morelos pay on its debt each year?
Debt service cost the Morelos state government 675.8 million pesos in 2025, 1.6% of its spending, 9th lowest share of 32 (all 32 governments combined: 5.6%). Interest accounted for 585.0 million pesos and principal repayments for 87.3 million pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much debt does Morelos have?
Debt and financial obligations of the Morelos state government and its public entities registered with Hacienda stood at 6.1 billion pesos on 30 June 2026, 2,932 pesos per resident, 12th lowest of 32 (all 32 governments combined: 4,962 pesos). That is down 0.8% from 6.1 billion pesos on 31 December 2025 and 0.9% of all registered state debt.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyWho does Morelos owe money to?
100% of Morelos' registered debt at 30 June 2026 was backed by its federal participaciones as the source of payment. By lender: development banks 100%.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyWhat interest rate does Morelos pay on its debt?
The weighted average interest rate on Morelos' registered debt was 7.25% at 30 June 2026, 15th highest of 31 entities with registered debt (overall: 7.21%), and the weighted average remaining term was 15.3 years, 13th longest of 31.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyIs Morelos' debt level sustainable?
In Hacienda's debt Alert System for the second quarter of 2026, Morelos' debt and obligations equalled 34.6% of its unconditional revenue (ingresos de libre disposicion), in the low range (the low range runs up to 100%) and 13th lowest of 31 entities measured. Debt service took 3.5% 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 Morelos compares with other states
State government spending per person (2025)
Morelos ranks 29 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 |
|---|---|---|
| 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 |
| 32 | Puebla | 19,300 pesos |
Federal transfers as a share of state revenue (2025)
Morelos ranks 7 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 |
|---|---|---|
| 4 | Michoacan | 92.1% |
| 5 | Veracruz | 91.8% |
| 6 | Chiapas | 90.8% |
| 7 | Morelos | 90.8% |
| 8 | Tabasco | 90.5% |
| 9 | Puebla | 90.3% |
| 10 | Hidalgo | 90.1% |
Own revenue as a share of state revenue (2025)
Morelos ranks 27 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 |
|---|---|---|
| 24 | Puebla | 9.7% |
| 25 | Tabasco | 9.5% |
| 26 | Chiapas | 9.2% |
| 27 | Morelos | 8.8% |
| 28 | Michoacan | 7.9% |
| 29 | Veracruz | 6.9% |
| 30 | Tlaxcala | 6.7% |
State taxes collected per person (2025)
Morelos ranks 30 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 |
|---|---|---|
| 26 | Hidalgo | 952 pesos |
| 27 | Guerrero | 815 pesos |
| 28 | Michoacan | 815 pesos |
| 29 | Tlaxcala | 779 pesos |
| 30 | Morelos | 752 pesos |
| 31 | Oaxaca | 558 pesos |
| 32 | Chiapas | 485 pesos |
Federal participaciones (revenue sharing) per person (2025)
Morelos ranks 27 of 32, highest first. Participaciones federales received in 2025 (preliminary) per resident
| Rank | Region | Federal participaciones (revenue sharing) per person |
|---|---|---|
| 24 | Tlaxcala | 9,194 pesos |
| 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 |
Federal aportaciones (earmarked transfers) per person (2025)
Morelos ranks 18 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 |
|---|---|---|
| 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 |
| 20 | Yucatan | 9,806 pesos |
| 21 | Tamaulipas | 9,430 pesos |
Personnel costs as a share of state spending (2025)
Morelos ranks 31 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 |
|---|---|---|
| 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% |
| 32 | Queretaro | 4.2% |
Public investment as a share of state spending (2025)
Morelos ranks 31 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 |
|---|---|---|
| 26 | Quintana Roo | 1.9% |
| 27 | Guerrero | 1.9% |
| 28 | Sonora | 1.2% |
| 29 | Durango | 1.2% |
| 30 | Veracruz | 1.1% |
| 31 | Morelos | 1.0% |
| 32 | Yucatan | 0.0% |
Share of state spending passed to municipalities (2025)
Morelos ranks 8 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 |
|---|---|---|
| 5 | Oaxaca | 20.4% |
| 6 | Baja California Sur | 20.0% |
| 7 | Puebla | 19.3% |
| 8 | Morelos | 18.9% |
| 9 | Tabasco | 18.1% |
| 10 | Veracruz | 18.1% |
| 11 | Tlaxcala | 18.0% |
Debt service as a share of state spending (2025)
Morelos ranks 24 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 |
|---|---|---|
| 21 | Queretaro | 1.8% |
| 22 | Yucatan | 1.8% |
| 23 | Oaxaca | 1.7% |
| 24 | Morelos | 1.6% |
| 25 | Puebla | 1.5% |
| 26 | Aguascalientes | 1.2% |
| 27 | Hidalgo | 1.2% |
Registered state debt per person (2026-06-30)
Morelos ranks 21 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 |
|---|---|---|
| 18 | Oaxaca | 3,336 pesos |
| 19 | Jalisco | 3,264 pesos |
| 20 | Chiapas | 2,969 pesos |
| 21 | Morelos | 2,932 pesos |
| 22 | Sinaloa | 2,137 pesos |
| 23 | San Luis Potosi | 2,043 pesos |
| 24 | Campeche | 2,043 pesos |
Debt as a share of unconditional revenue (Alert System indicator 1) (2026-Q2)
Morelos ranks 19 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) |
|---|---|---|
| 16 | Zacatecas | 37.0% |
| 17 | Oaxaca | 36.6% |
| 18 | Chiapas | 34.9% |
| 19 | Morelos | 34.6% |
| 20 | State of Mexico | 27.9% |
| 21 | Jalisco | 26.9% |
| 22 | San Luis Potosi | 23.8% |
Debt service as a share of unconditional revenue (Alert System indicator 2) (2026-Q2)
Morelos ranks 19 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) |
|---|---|---|
| 16 | Tamaulipas | 3.9% |
| 17 | Guanajuato | 3.7% |
| 18 | Oaxaca | 3.7% |
| 19 | Morelos | 3.5% |
| 20 | Queretaro | 3.4% |
| 21 | Sinaloa | 3.4% |
| 22 | Aguascalientes | 3.1% |
Average interest rate on registered state debt (2026-06-30)
Morelos ranks 15 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 |
|---|---|---|
| 12 | State of Mexico | 7.31% |
| 13 | Sonora | 7.27% |
| 14 | Quintana Roo | 7.25% |
| 15 | Morelos | 7.25% |
| 16 | Campeche | 7.21% |
| 17 | Guanajuato | 7.21% |
| 18 | Tamaulipas | 7.17% |
More on Morelos: 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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