US EditionArgentina's Congress approves 2026 budget, first under Milei
The 2026 budget authorizes foreign debt issuance and supports a $20 billion IMF deal, reflecting Milei's increased political influence after midterm gains, with 46 senators approving.
- On Friday, Argentina's Congress approved the 2026 budget suggested by President Javier Milei, marking his first general-vote budget victory since taking office over two years ago.
- The bill authorises issuing debt abroad and aligns with rules governing IMF deals, helping shore up Argentina's US$20-billion IMF agreement as Milei capitalises on October midterm elections.
- Milei revived tensions with allies by snubbing former president Mauricio Macri for an auditor general seat, but lower house lawmakers removed text on universities and disability programmes to secure PRO party support.
- With about US$4.5 billion owed on Jan. 9, Economy Minister Luis Caputo signalled no new bond sales abroad in January, while analysts said the vote lets Milei show political strength after governing by decree.
- The budget sets $102 billion in spending and targets a zero deficit mostly through spending cuts, reflecting the government's fiscal discipline approach, said Senator Ezequiel Atauche.
33 Articles
33 Articles
The Argentine Senate approved on Friday 26 December the first budget in two years of the presidency of the ultraliberal Javier Milei, whose austerity cure was forced by the hostility of the Parliament until the legislatives of October.After the deputies, the upper chamber validated the budget 2026 of the third economy of Latin America by 46 votes in favour, 25 against and one abstention after more than eight hours of debate.
On Friday Argentina adopted its first budget since President Javier Milei took office in 2023.
The Argentine Congress has adopted the budget for the coming year and thus the first since the entry into office of President Milei.
Protothema
in.grWithout the required parliamentary majority, the government settled for a revised version of the 2023 budget.
In the absence of a majority before its success at the legislative elections in October, Javier Milei had governed for the past two years on the basis of the 2023 budget, setting aside the financing of certain public services.
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