Pemex and CFE Pension Costs Weigh on Mexico’s Budget

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…