In the penultimate month of 2022, the payment of interest on debt absorbed 9.8% of total public spending, while last year it represented 9.2% and in 2018, the last year of the government in charge of Enrique Peña Nieto, it represented 9.1%. The highest level recorded was in 2020, with 10.8%.
Foreign debt balances fall
Until last November, the total internal public debt reported a historic balance of 9.4 trillion pesos, when at the end of 2021 it was 8.5 trillion.
The balance of the external public debt was reduced: in December 2021 it reported 218.421 million dollars, and at the end of November 2022 it was 216.158 million.
According to the president, Andrés Manuel López Obrador, the government seeks to reduce the balance of external debt by 50% by 2025, the first year that a new president will be in charge in Mexico.
“As part of the strategy for an orderly transition towards 2025, external debt amortizations were reduced by 30 billion pesos, which will allow the next administration to be given slack and avoid financial pressures,” says the Treasury in its report on finances and public debt at the end of November.
In November, he explained that it has not had to resort to placement operations in foreign financial markets. “The federal government maintains the commitment to have healthy public finances, by using external debt strategically and as a complementary source of financing, as long as favorable conditions of cost, amount and term are reached,” said the Treasury.
