High-Stakes Financial Meeting in Nuevo León

A critical meeting took place in Monterrey to discuss Nuevo León's significant deficit of nearly 10 billion pesos and the need for potential debt restructuring. Legislators explored various financing scenarios for the 2025 budget and the implications of necessary investments.


High-Stakes Financial Meeting in Nuevo León

The local Congress deputies of Nuevo León held a meeting to discuss the possibility of indebting the State to cover a deficit close to 10 billion pesos in 2024. Carlos De la Fuente, coordinator of the Acción Nacional party, stated that it is necessary to carefully analyze the project and the works contemplated to justify such a significant investment of around 25 billion pesos.

During the meeting with the Secretary of Finance and Treasurer of Nuevo León, Carlos Garza Ibarra, which lasted about two hours, possible financing scenarios for the upcoming year were presented. According to De la Fuente, it is vital to know the destination of the works, the expenses made and projected, as well as the feasibility of completing the projects during the current administration.

According to Heriberto Treviño Cantú, coordinator of the PRI Legislative Group, the meeting allowed legislators to understand the budget project for the next year and evaluate different financing options. Treviño Cantú emphasized the importance of thoroughly reviewing the electronic document provided by the treasurer to make an informed decision regarding the possible debt.

In general, the blocs of the PRI, PAN, Verde, Morena, PT, and Movimiento Ciudadano viewed the first meeting with the treasurer positively, although they agreed on the need to meticulously study the proposal before making any decision. The deputies highlighted the urgency of addressing the State's budget deficit and the viability of resorting to debt to cope with this situation.