Government budget and revenue in Veracruz, Mexico: official figures
The Veracruz state government spent 196.6 billion pesos in 2025 according to INEGI's preliminary state public finance statistics, 24,214 pesos per resident, 16th lowest of 32 (all 32 governments combined: 24,691 pesos). Spending was up 13.3% on 2024 and up 46.0% on 2018, before adjusting for inflation.
How much does Veracruz depend on federal money?
Federal transfers made up 91.8% of the Veracruz state government's revenue in 2025 (179.2 billion pesos of 195.2 billion pesos, counting revenue without borrowing), 5th highest share of 32 (all 32 governments combined: 81.0%). In 2024 the share was 90.6%.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much revenue-sharing money does Veracruz get from the federal government?
Veracruz received 95.2 billion pesos in federal participaciones, the revenue-sharing transfers states may spend freely, in 2025: 11,721 pesos per resident, 5th highest of 32 (all 32 governments combined: 10,102 pesos). The General Participation Fund supplied 59.1 billion pesos of it; the total was up 33.1% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much earmarked federal funding does Veracruz receive?
Earmarked federal transfers (aportaciones, including the Ramo 33 funds and reassigned federal resources) brought Veracruz 84.0 billion pesos in 2025, 10,341 pesos per resident, 14th 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 40.4 billion pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much of its own money does Veracruz raise?
The Veracruz state government's own revenue (taxes, fees, products and other own income) was 13.5 billion pesos in 2025, 6.9% of its revenue without borrowing, 4th lowest share of 32 (all 32 governments combined: 18.1%). It was up 7.1% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much tax does the Veracruz government collect?
State taxes raised 8.0 billion pesos in Veracruz in 2025, 990 pesos per resident, 8th lowest of 32 (all 32 governments combined: 2,402 pesos). The payroll tax (impuesto sobre nomina) supplied 76.0% of tax revenue.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Veracruz spend on government salaries?
Personnel costs (servicios personales) took 71.5 billion pesos, or 36.4% of the Veracruz state government's spending in 2025, 4th highest share of 32 (all 32 governments combined: 20.1%). The bill was up 4.0% on 2024.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Veracruz invest in public works?
The Veracruz state government spent 2.2 billion pesos on public investment (public works and productive projects) in 2025, 1.1% of its spending, 3rd lowest share of 32 (all 32 governments combined: 3.4%). In 2024 it spent 3.4 billion pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much money does Veracruz give its municipalities?
The Veracruz state government passed 35.6 billion pesos to its municipalities in 2025, 18.1% of its spending, 10th highest share of 31 states (all 31 states: 17.0%). Of this, 17.1 billion pesos was the municipal share of federal participaciones and 17.8 billion pesos Ramo 33 aportaciones.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much does Veracruz pay on its debt each year?
Debt service cost the Veracruz state government 31.8 billion pesos in 2025, 16.1% of its spending, 2nd highest share of 32 (all 32 governments combined: 5.6%). Interest accounted for 4.4 billion pesos and principal repayments for 1.3 billion pesos, and payments of bills left from earlier years (ADEFAS) for 26.0 billion pesos.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much debt does Veracruz have?
Debt and financial obligations of the Veracruz state government and its public entities registered with Hacienda stood at 42.2 billion pesos on 30 June 2026, 5,204 pesos per resident, 8th highest of 32 (all 32 governments combined: 4,962 pesos). That is down 7.7% from 45.7 billion pesos on 31 December 2025 and 6.3% of all registered state debt.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyWho does Veracruz owe money to?
92% of Veracruz's registered debt at 30 June 2026 was backed by its federal participaciones as the source of payment. By lender: development banks 66%, commercial banks 34%.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyWhat interest rate does Veracruz pay on its debt?
The weighted average interest rate on Veracruz's registered debt was 6.34% at 30 June 2026, the lowest of 31 entities with registered debt (overall: 7.21%), and the weighted average remaining term was 12.5 years, 12th shortest of 31.
Source: Secretaria de Hacienda y Credito Publico (SHCP), Unidad de Coordinacion con Entidades Federativas · saved copyIs Veracruz's debt level sustainable?
In Hacienda's debt Alert System for the second quarter of 2026, Veracruz's debt and obligations equalled 47.1% of its unconditional revenue (ingresos de libre disposicion), in the low range (the low range runs up to 100%) and 9th highest of 31 entities measured. Debt service took 4.9% 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 Veracruz compares with other states
State government spending per person (2025)
Veracruz ranks 17 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 |
|---|---|---|
| 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 |
| 20 | Baja California | 23,366 pesos |
Federal transfers as a share of state revenue (2025)
Veracruz ranks 5 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 |
|---|---|---|
| 2 | Oaxaca | 93.5% |
| 3 | Tlaxcala | 92.8% |
| 4 | Michoacan | 92.1% |
| 5 | Veracruz | 91.8% |
| 6 | Chiapas | 90.8% |
| 7 | Morelos | 90.8% |
| 8 | Tabasco | 90.5% |
Own revenue as a share of state revenue (2025)
Veracruz ranks 29 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 |
|---|---|---|
| 26 | Chiapas | 9.2% |
| 27 | Morelos | 8.8% |
| 28 | Michoacan | 7.9% |
| 29 | Veracruz | 6.9% |
| 30 | Tlaxcala | 6.7% |
| 31 | Oaxaca | 6.5% |
| 32 | Guerrero | 4.0% |
State taxes collected per person (2025)
Veracruz ranks 25 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 |
|---|---|---|
| 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 |
| 28 | Michoacan | 815 pesos |
Federal participaciones (revenue sharing) per person (2025)
Veracruz ranks 5 of 32, highest first. Participaciones federales received in 2025 (preliminary) per resident
| Rank | Region | Federal participaciones (revenue sharing) per person |
|---|---|---|
| 2 | Tabasco | 12,878 pesos |
| 3 | Campeche | 12,090 pesos |
| 4 | Baja California Sur | 11,834 pesos |
| 5 | Veracruz | 11,721 pesos |
| 6 | Nuevo Leon | 11,160 pesos |
| 7 | Sonora | 10,817 pesos |
| 8 | Chihuahua | 10,526 pesos |
Federal aportaciones (earmarked transfers) per person (2025)
Veracruz ranks 19 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 |
|---|---|---|
| 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 |
| 22 | Chihuahua | 9,429 pesos |
Personnel costs as a share of state spending (2025)
Veracruz ranks 4 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)
Veracruz ranks 30 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)
Veracruz ranks 10 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 |
|---|---|---|
| 7 | Puebla | 19.3% |
| 8 | Morelos | 18.9% |
| 9 | Tabasco | 18.1% |
| 10 | Veracruz | 18.1% |
| 11 | Tlaxcala | 18.0% |
| 12 | Hidalgo | 17.3% |
| 13 | Michoacan | 17.3% |
Debt service as a share of state spending (2025)
Veracruz ranks 2 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 |
|---|---|---|
| 1 | Durango | 18.5% |
| 2 | Veracruz | 16.1% |
| 3 | Chihuahua | 15.1% |
| 4 | Nuevo Leon | 12.9% |
| 5 | Sonora | 10.5% |
| 6 | Chiapas | 9.2% |
| 7 | Tabasco | 7.9% |
Registered state debt per person (2026-06-30)
Veracruz ranks 8 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 |
|---|---|---|
| 5 | Sonora | 9,073 pesos |
| 6 | Quintana Roo | 9,057 pesos |
| 7 | Durango | 5,902 pesos |
| 8 | Veracruz | 5,204 pesos |
| 9 | Baja California | 5,153 pesos |
| 10 | Nayarit | 4,918 pesos |
| 11 | Colima | 4,624 pesos |
Debt as a share of unconditional revenue (Alert System indicator 1) (2026-Q2)
Veracruz ranks 9 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) |
|---|---|---|
| 6 | Durango | 54.2% |
| 7 | Michoacan | 51.9% |
| 8 | Nayarit | 47.2% |
| 9 | Veracruz | 47.1% |
| 10 | Colima | 42.4% |
| 11 | Aguascalientes | 40.8% |
| 12 | Baja California | 40.6% |
Debt service as a share of unconditional revenue (Alert System indicator 2) (2026-Q2)
Veracruz ranks 10 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) |
|---|---|---|
| 7 | Durango | 6.5% |
| 8 | Nayarit | 5.6% |
| 9 | Mexico City | 5.0% |
| 10 | Veracruz | 4.9% |
| 11 | Baja California | 4.5% |
| 12 | Colima | 4.5% |
| 13 | Yucatan | 4.5% |
Average interest rate on registered state debt (2026-06-30)
Veracruz ranks 31 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 |
|---|---|---|
| 25 | Yucatan | 7.06% |
| 26 | Chiapas | 7.05% |
| 27 | Jalisco | 7.05% |
| 28 | Oaxaca | 7.04% |
| 29 | Chihuahua | 6.94% |
| 30 | Queretaro | 6.92% |
| 31 | Veracruz | 6.34% |
More on Veracruz: 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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