Nm State Budget 2025. Michelle lujan grisham is seeking. The budget totals $10.5 billion in recurring spending, a 9.9% increase from the last fiscal year.

The fiscal year 2026 executive budget recommendation totals $10.9 billion in recurring general fund appropriations, an increase of $720 million, or 7.0%, over the fiscal year. New mexico’s budget goes through many stages before it is ultimately approved for a particular fiscal year.