Government budget and revenue in Puebla, Mexico: official figures
The Puebla state government spent 136.5 billion pesos in 2025 according to INEGI's preliminary state public finance statistics, 19,300 pesos per resident, the lowest of 32 (all 32 governments combined: 24,691 pesos). Spending was up 3.3% on 2024 and up 41.0% on 2018, before adjusting for inflation.
How much does Puebla depend on federal money?
Federal transfers made up 90.3% of the Puebla state government's revenue in 2025 (125.3 billion pesos of 138.7 billion pesos, counting revenue without borrowing), 9th highest share of 32 (all 32 governments combined: 81.0%). In 2024 the share was 86.8%.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much revenue-sharing money does Puebla get from the federal government?
Puebla received 58.9 billion pesos in federal participaciones, the revenue-sharing transfers states may spend freely, in 2025: 8,336 pesos per resident, 3rd lowest of 32 (all 32 governments combined: 10,102 pesos). The General Participation Fund supplied 44.5 billion pesos of it; the total was up 5.6% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much earmarked federal funding does Puebla receive?
Earmarked federal transfers (aportaciones, including the Ramo 33 funds and reassigned federal resources) brought Puebla 66.3 billion pesos in 2025, 9,382 pesos per resident, 9th 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 26.3 billion pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much of its own money does Puebla raise?
The Puebla state government's own revenue (taxes, fees, products and other own income) was 13.4 billion pesos in 2025, 9.7% of its revenue without borrowing, 9th lowest share of 32 (all 32 governments combined: 18.1%). It was up 5.2% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much tax does the Puebla government collect?
State taxes raised 8.2 billion pesos in Puebla in 2025, 1,161 pesos per resident, 9th lowest of 32 (all 32 governments combined: 2,402 pesos). The payroll tax (impuesto sobre nomina) supplied 68.3% of tax revenue.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Puebla spend on government salaries?
Personnel costs (servicios personales) took 49.8 billion pesos, or 36.5% of the Puebla state government's spending in 2025, 3rd highest share of 32 (all 32 governments combined: 20.1%). The bill was up 4.8% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Puebla invest in public works?
The Puebla state government spent 4.0 billion pesos on public investment (public works and productive projects) in 2025, 2.9% of its spending, 15th highest share of 32 (all 32 governments combined: 3.4%). In 2024 it spent 12.1 billion pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much money does Puebla give its municipalities?
The Puebla state government passed 26.3 billion pesos to its municipalities in 2025, 19.3% of its spending, 7th highest share of 31 states (all 31 states: 17.0%). Of this, 12.7 billion pesos was the municipal share of federal participaciones and 13.6 billion pesos Ramo 33 aportaciones.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Puebla pay on its debt each year?
Debt service cost the Puebla state government 2.0 billion pesos in 2025, 1.5% of its spending, 8th lowest share of 32 (all 32 governments combined: 5.6%). Interest accounted for 512.1 million pesos and principal repayments for 1.5 billion pesos, and payments of bills left from earlier years (ADEFAS) for 9.9 million pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much debt does Puebla have?
Debt and financial obligations of the Puebla state government and its public entities registered with Hacienda stood at 3.5 billion pesos on 30 June 2026, 496 pesos per resident, 3rd lowest of 32 (all 32 governments combined: 4,962 pesos). That is down 22.3% from 4.6 billion pesos on 31 December 2025 and 0.5% of all registered state debt.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyWho does Puebla owe money to?
100% of Puebla's registered debt at 30 June 2026 was backed by its federal participaciones as the source of payment. By lender: commercial banks 100%.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyWhat interest rate does Puebla pay on its debt?
The weighted average interest rate on Puebla's registered debt was 7.13% at 30 June 2026, 11th lowest of 31 entities with registered debt (overall: 7.21%), and the weighted average remaining term was 6.5 years, 5th shortest of 31.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyIs Puebla's debt level sustainable?
In Hacienda's debt Alert System for the second quarter of 2026, Puebla's debt and obligations equalled 10.7% of its unconditional revenue (ingresos de libre disposicion), in the low range (the low range runs up to 100%) and 4th lowest of 31 entities measured. Debt service took 2.5% 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 Puebla compares with other states
State government spending per person (2025)
Puebla ranks 32 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)
Puebla ranks 9 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 |
|---|---|---|
| 6 | Chiapas | 90.8% |
| 7 | Morelos | 90.8% |
| 8 | Tabasco | 90.5% |
| 9 | Puebla | 90.3% |
| 10 | Hidalgo | 90.1% |
| 11 | Zacatecas | 89.9% |
| 12 | Colima | 89.6% |
Own revenue as a share of state revenue (2025)
Puebla ranks 24 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 |
|---|---|---|
| 21 | Colima | 10.4% |
| 22 | Zacatecas | 10.1% |
| 23 | Hidalgo | 9.9% |
| 24 | Puebla | 9.7% |
| 25 | Tabasco | 9.5% |
| 26 | Chiapas | 9.2% |
| 27 | Morelos | 8.8% |
State taxes collected per person (2025)
Puebla ranks 24 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 |
|---|---|---|
| 21 | Tabasco | 1,409 pesos |
| 22 | San Luis Potosi | 1,357 pesos |
| 23 | Sinaloa | 1,270 pesos |
| 24 | Puebla | 1,161 pesos |
| 25 | Veracruz | 990 pesos |
| 26 | Hidalgo | 952 pesos |
| 27 | Guerrero | 815 pesos |
Federal participaciones (revenue sharing) per person (2025)
Puebla ranks 30 of 32, highest first. Participaciones federales received in 2025 (preliminary) per resident
| Rank | Region | Federal participaciones (revenue sharing) per person |
|---|---|---|
| 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 |
| 32 | Hidalgo | 7,983 pesos |
Federal aportaciones (earmarked transfers) per person (2025)
Puebla ranks 24 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 |
|---|---|---|
| 21 | Tamaulipas | 9,430 pesos |
| 22 | Chihuahua | 9,429 pesos |
| 23 | Coahuila | 9,388 pesos |
| 24 | Puebla | 9,382 pesos |
| 25 | Baja California | 8,595 pesos |
| 26 | Queretaro | 8,145 pesos |
| 27 | Guanajuato | 7,954 pesos |
Personnel costs as a share of state spending (2025)
Puebla ranks 3 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)
Puebla ranks 15 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 |
|---|---|---|
| 12 | Guanajuato | 3.5% |
| 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% |
Share of state spending passed to municipalities (2025)
Puebla ranks 7 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 |
|---|---|---|
| 4 | Guerrero | 21.1% |
| 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% |
Debt service as a share of state spending (2025)
Puebla ranks 25 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 |
|---|---|---|
| 22 | Yucatan | 1.8% |
| 23 | Oaxaca | 1.7% |
| 24 | Morelos | 1.6% |
| 25 | Puebla | 1.5% |
| 26 | Aguascalientes | 1.2% |
| 27 | Hidalgo | 1.2% |
| 28 | Sinaloa | 1.1% |
Registered state debt per person (2026-06-30)
Puebla ranks 30 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 |
|---|---|---|
| 26 | Baja California Sur | 1,507 pesos |
| 27 | Guanajuato | 1,292 pesos |
| 28 | Hidalgo | 696 pesos |
| 29 | Guerrero | 577 pesos |
| 30 | Puebla | 496 pesos |
| 31 | Queretaro | 397 pesos |
| 32 | Tlaxcala | 0 pesos |
Debt as a share of unconditional revenue (Alert System indicator 1) (2026-Q2)
Puebla ranks 28 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) |
|---|---|---|
| 25 | Guanajuato | 18.1% |
| 26 | Tabasco | 15.0% |
| 27 | Baja California Sur | 13.7% |
| 28 | Puebla | 10.7% |
| 29 | Guerrero | 8.3% |
| 30 | Hidalgo | 8.3% |
| 31 | Queretaro | 3.4% |
Debt service as a share of unconditional revenue (Alert System indicator 2) (2026-Q2)
Puebla ranks 28 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) |
|---|---|---|
| 25 | Campeche | 2.7% |
| 26 | Baja California Sur | 2.6% |
| 27 | Tabasco | 2.6% |
| 28 | Puebla | 2.5% |
| 29 | San Luis Potosi | 2.4% |
| 30 | Hidalgo | 1.8% |
| 31 | Guerrero | 1.3% |
Average interest rate on registered state debt (2026-06-30)
Puebla ranks 21 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 |
|---|---|---|
| 18 | Tamaulipas | 7.17% |
| 19 | Tabasco | 7.14% |
| 20 | Sinaloa | 7.13% |
| 21 | Puebla | 7.13% |
| 22 | Hidalgo | 7.09% |
| 23 | Nuevo Leon | 7.08% |
| 24 | San Luis Potosi | 7.07% |
More on Puebla: 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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