President Javier Milei on Monday presented the draft 2026 Budget during a nationwide broadcast on the statutory date of September 15.
In his speech, Milei affirmed that “the worst is already over” while expressing his “thanks” to Argentines “for the enormous support shown throughout this first period” as they bore the worst of his austerity campaign.
The President, who used a nationwide broadcast to announce the bill, reiterated though that his aim of “fiscal balance is not negotiable,” arguing “it is the only route for Argentina to exit the economic cycle of disappointment.”
“All possible experiments were tried in this country by the greatest variety of economic alchemists,” affirmed Milei.
"The worst is already over, it cost us a lot to get here, we know that the road is hard but we are on the correct course and won’t let up," he added.
According to the President, the Budget "seeks legal and administrative backing for our economic programme of reforms as well as the support of Congress."
For Milei, the pressure is growing after the ruling party’s defeat in regional elections in Buenos Aires Province earlier this month. Central Bank reserves have dipped below US$40 billion in recent days, leading to growing uncertainty on the markets.
Here are 10 key points and promises from the Milei administration’s 2026 Budget bill.
– A primary surplus giving Argentina a bottom line of fiscal surplus or balance in the worst of cases.
– The lowest level of national government spending in relation to Gross Domestic Product in the last 30 years; Level of national spending will be below the provincial for the first time since the 1990s.
– A ban on Treasury financing via the Central Bank. Milei argued this would imply printing money and the return of the hell of inflation.
– Fiscal stability as a rule: if revenue drops or spending exceeds anticipated levels, allocations will be adjusted to maintain fiscal balance.
– An allocation of 4.8 trillion pesos for national universities, five percent hike for pensions and 17 percent boost for public healthcare spending, in both cases above inflation; Spending on education will be increased eight percent beyond 2026 inflation;
– Pensions for the disabled will be increased five percent beyond the 2026 inflation.
– Fully 85 percent of the Budget will be dedicated to education, health and pensions, according to the government.
– Regime of mutual obligations between national and provincial governments with a specific budget will be extinguished.
– Regime of sworn income tax statements will be simplified.
– Financing of the private sector will be sought to "develop infrastructural and logistical works fundamental for the country."
– TIMES/NA
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