Pemex and CFE pension costs hit MX$2.1 trillion (~US$123 billion) in 2026, adding to Mexico's deficit and public debt. Here is what it means for investors.
Mexico · Economy
MX$2.1 trillion (~US$123 billion): the combined pension bill sitting on the books of Pemex and CFE by mid-2026.
Pemex: MX$1.506 trillion (~US$88 billion) in pension obligations, up 10.9% from a year earlier.
CFE: MX$554.2 billion (~US$32.5 billion), up a steep 25.3% year on year.
Federal budget: pensions swallow about 24% of programmable spending in 2026, with IMSS, ISSSTE, Pemex and CFE alone needing more than MX$1.7 trillion (~US$100 billion).
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