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 success since election over two years ago, with the Senate passing it 46-25 with one abstention.
- 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 election gains.
- Negotiations in the lower house removed text on universities and disability programmes after disputes, and those tensions were set aside Friday as Milei received votes from Mauricio Macri, former president’s PRO party and allied legislators.
- With about US$4.5 billion owed on Jan. 9, bond management remains crucial as analysts view the vote as Milei’s opportunity to demonstrate political strength after governing largely by decree.
- The budget sets $102 billion in spending and aims for a zero deficit mostly through spending cuts, reflecting lawmakers' fiscal discipline.
32 Articles
32 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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