The total public debt of the 32 federal entities in Mexico reached 689 billion 370 million pesos by the end of the third quarter of 2025, with notable disparities in individual state debts. Six states have seen per capita debt figures ranging from 10,152 pesos to 17,546 pesos, indicating a significant financial burden on residents in those areas. Only one state reported zero debt, with four others having less than 1,000 pesos in debt per inhabitant at the close of September, highlighting a stark contrast in fiscal health across the country.

According to the "Financial Obligations of the Federal Entities of Mexico" study conducted by the Center for Public Finance Studies of the Chamber of Deputies, approximately half of the states have experienced an increase in per capita debt over the last decade, pointing to growing economic challenges and potential risks for state budgets. The average debt per Mexican citizen due to subnational debt from states and municipalities is 5,169 pesos, yet this average masks significant regional variations, with some areas experiencing more than double or triple this amount of debt.

The findings of this report raise important questions about fiscal responsibility and the economic health of Mexican states. With the debt crisis affecting key regions like Nuevo León and Chihuahua, there are implications for local governance, public services, and long-term sustainability in managing debt. Addressing this growing challenge will require coordinated financial strategies and policies to mitigate the risks associated with excessive debt burdens on residents.