Mexico to Boost Public Investment in 2026, Confirms SHCP

Public investment is expected to increase in 2026 as the Mexican government channels resources into priority projects which include railways, highways, and housing, Finance Minister Edgar Amador said. In regards to the 2026 federal budget, Amador explained that the increase in spending will mark the start of an “ascending phase” of investment that is expected to support economic growth. “We are already seeing it; public investment is being reactivated.”

The budget has set an allocation of more than MX$900 billion for investment, which includes funds for state-owned energy companies PEMEX and CFE. Amador added that starting in 2027, the government will have greater fiscal space as PEMEX debt maturities ease.

Mexico’s 2026 Economic Package projects revenues of MX$8.7 trillion and expenditures of MX$10.2 trillion (US$500 billion). Debt ceilings are set at MX$1.78 trillion in domestic currency and US$15.5 billion in foreign debt. Amador stressed that Mexico’s debt levels remain below those of many emerging and developed economies. “Our debt management is responsible and conservative,” he said, adding that 85% of Mexico’s debt is in pesos.

PEMEX pressures
Amador highlighted that the main challenge for public finances is PEMEX’s debt and 2025 and 2026 maturities, which total around US$24 billion, or 26% of the company’s total liabilities. “These maturities are what put the most pressure on public finances,” he said. The Finance Ministry, in close coordination with the Energy Ministry, is focused on supporting the state oil company’s financial recovery.

Beyond PEMEX, Amador stressed three other government priorities: social programs, the “Plan México” initiative to boost investment, and customs modernization. Social programs have allocated MX$987 billion in the 2026 budget, reflecting the government’s focus on poverty reduction.

Plan México aims to accelerate economic growth with support from development banks. Amador emphasized the appointment of Roberto Lazeri as director of Nafin and Bancomext as central to the plan’s implementation.

Customs Reform and Revenue
Customs have also become a focal point for the Ministry of Finance and Public Credit (SHCP). Amador noted that revenues from customs will exceed projections by MX$200 billion in 2025. Trade activity represents about 75% of Mexico’s GDP, with customs revenue accounting for roughly a quarter of total tax collection.

The government plans to strengthen customs oversight through new legislation and technological controls. “The new customs law sends a clear message to customs agents: operate transparently and within the law. The goal is to eliminate evasion, avoidance and corruption,” Amador said.