The Secretary of Finance for Nuevo León, Carlos Garza Ibarra, appeared before the local Congress as part of the final oversight hearing regarding the government's fourth annual report. He stated that while there are imbalances and urgent payments to be made, the situation is under control. The harshest questioning came from the MORENA party, where Deputy Grecia Benavides highlighted the alleged cost overrun of the new Metro lines in Monterrey, which increased from 25 to 49 billion pesos. Garza Ibarra denied this figure: 'I am unaware of the 25 billion amount. I believe the audits from oversight bodies have been positive, with few observations. When we get into financial planning, there may be circumstances that cause a negative imbalance... cash flows change, there are reports of unpaid invoices, but we are almost current and expect to close the year as projected.' He also mentioned the Municipal Development Fund, noting that some payments for 2024 are nearly complete, and progress for 2025 is strong. During the hearing, he was questioned about other issues, including the debt to retired teachers, lack of investment in special education, and the increase in the State Tax on Income (ISR) and its relation to business leaders. From the PRI, Deputy Armida Serrato accused the governor of squandering resources on mobility infrastructure while neglecting other areas and payments. Garza Ibarra responded that payments have increased by almost 30%, in accordance with the Fiscal Coordination Law. He also promised to provide a detailed breakdown of the contracts for Lines 4 and 6, which total approximately 30 billion pesos, and confirmed that the state is in the 'green zone' for its 2026 debt. The treasurer stated that the fiscal package can be modified until the deadline, and the executive branch is open to this. He also reported that an advance was made to some municipalities on November 10, and only debts for 2025 remain, which he assured will be resolved soon. Garza Ibarra showed rapport with opposition legislators, who consider him one of the few trusted officials in the current administration.
Nuevo León Finance Secretary Reports on Debt and Infrastructure
Carlos Garza Ibarra defended budgetary decisions before the state congress, refuting accusations of cost overruns on metro lines. He confirmed the state is in a 'green zone' regarding debt and is open to dialogue with the opposition.