The physical investment of public companies, which includes that made by Petróleos Mexicanos (Pemex) and the Federal Electricity Commission (CFE), was 225 thousand 45 million pesos in the first 10 months of the year, an amount that translated into a contraction of 28.6 percent compared to the same period last year, according to data from the Ministry of Finance and Public Credit (SHCP).
The public finance report for the tenth month of 2025 shows that in both entities the use of resources for this item destined for construction, conservation of works and the acquisition of goods has been reduced in an almost similar proportion.
The SHCP admitted that the two companies have not only reduced spending on physical investment, but also in other areas, due to the austerity schemes they undertook after the constitutional reform that returned them to public status.
In October alone, consolidated spending was 19,591 million pesos, which meant an increase at an annual rate of 81.4 percent in real terms, that is, discounting the effect of inflation.
Between January and October, Pemex’s physical investment amounted to 262,905 million pesos, an amount that showed a drop of 29.3 percent in the same period of 2024.
Since the beginning of the current administration, the oil company has implemented an austerity policy, to make the use of the resources it has more efficient, but also to improve the financial situation. However, it has continued with projects such as the coking plants in the refineries of Tula, Hidalgo, and Salina Cruz, Oaxaca.
For the tenth month, the exercise of resources in this area allocated to construction, conservation of works and the acquisition of goods was 14,420 million pesos, an amount that translated into an increase of 155.6 percent compared to the same period in 2024.
In the case of the CFE, physical investment stood at 40,874 million pesos between January and October, data that showed a contraction of 24.7 percent compared to the same period in 2024.
In October, spending for this item was 5.17 billion pesos, which meant a slight advance of 0.2 percent in real terms compared to the same month in 2024.
Although the CFE has also reduced spending in various areas, in recent months it announced that, as part of the Strengthening and Expansion Plan 2025-2030, it will strengthen the National Transmission Network with an investment of 8,177 million dollars. This involves the construction of 275 new transmission lines and 524 new works on electrical substations.