Argentina Passes Milei's Ambitious 2026 Budget

Argentina's Congress approved the 2026 budget with 46 votes in favor and 25 against, marking it as the first budget passed under President Javier Milei. It plans $101.8 billion in spending, projects a 5% GDP growth, a 10.1% inflation rate, and outlines a budget surplus of 1.2% GDP.

BUENOS AIRES, Dec 26 - In a significant political development, Argentina's Congress has officially approved the 2026 budget, the first since President Javier Milei assumed office in late 2023.

The budget was passed with 46 votes supporting it, contrasting with 25 votes in opposition and one abstention. This fiscal plan includes a substantial expenditure of $101.8 billion, equating to 148 billion Argentine pesos, and sets ambitious economic forecasts.

The budget outlines an expected GDP growth rate of 5% and an annual inflation rate of 10.1%. Additionally, it anticipates achieving a primary budget surplus of 1.2% of GDP, signaling an optimistic economic outlook for the coming years.

(With inputs from agencies.)