News of spending

Limit on tax agency referral for shopping raised to 10 million pesos

28-05-2025 11:55 ARCA has raised the floor for consumer identification control; Shops in Argentina only now need to identify customers and report customers to the tax authorities if they spend over 10 million pesos.

Milei government says SIDE intelligence services won’t target critics

27-05-2025 10:40 President Javier Milei’s government denies a report in La Nación newspaper claiming that SIDE intelligence services will collect information on individuals – potentially journalists, experts and opposition politicians – who could undermine confidence in government policies.

Argentina's GDP shrank less than expected in 2024

26-02-2025 11:44 Argentina beats the World Bank's projection and shrinks GDP by just 1.8 percent as part of Milei's self-proclaimed "largest fiscal adjustment in history."

The tale behind Milei’s chainsaw gift for Elon Musk

21-02-2025 17:06 President Javier Milei presents billionaire Elon Musk with a replica of the chainsaw he keeps at the Casa Rosada — how a tool manufacturer found a niche in the libertarian marketplace.

Midterm elections set limit on Milei’s search for spending cuts

10-01-2025 13:26 Spending cuts in 2024 reached some five percent of Argentina's GDP. Is there room to repeat this feat?

Estudiantes embark on spending spree with US billionaire’s support

09-01-2025 21:23 Estudiantes have arrived to shake up the hornets’ nest with a series of audacious transfer bids, bankrolled by billionaire US national Foster Gillett, in a financial offensive which has dragged the conflict around private ownership of clubs back onto the agenda.

by Dan Edwards

Leftist leaders are failing their promises across Latin America

21-10-2024 14:20 The changing political landscape in Latin America, highlights the decline of leftist governments due to economic challenges, crime, and social reform failures, and the rise of more business-friendly, right-leaning administrations.

World Bank highlights falling inflation but warns of economic decline

09-10-2024 17:23 Latest report forecasts 3.5% contraction for Argentina's economy, but says GDP will soar by 5% in 2025.

Privatisations, relaunches and retirements – Milei’s plan for state media

26-08-2024 19:14 President Javier Milei has managed to shutter the Télam news agency and is attempting to downsize and sell off a host of Argentina’s state media outlets – but are his plans working? And what is the “relaunch” his administration is planning?

by Julian D'Imperio

Teaching staff at public universities stage 48-hour strike

20-08-2024 12:06 Strike at state universities gets underway with no classes scheduled for Tuesday and Wednesday; Unions claim the government's wage renegotiation proposal is insufficient as Milei administration looks to cut costs.

National cinema raises its voice at Cannes against Milei’s cutbacks

22-05-2024 15:26 Creators of award-winning Argentine productions use their international platform at prestigious French film festival to vocalise anger at industry cutbacks and Milei government’s austerity measures.

Massive crowds march against Milei’s cuts to state universities

23-04-2024 21:08 Large crowds turn out nationwide for march in defence of universities and state education; One of biggest rallies yet of President Javier Milei's government, with estimates ranging from 100,000 to half a million.

Attitudinal shifts and the risks of upheaval

06-04-2024 06:24 Milei’s “negative rhetoric,” sustained by his synthetic power, is useful in setting the agenda, but it doesn’t put food on the table.

by Agustino Fontevecchia

Kicillof announces wage increase for state workers

18-03-2024 15:11 Salaries of state teachers, police officers and public employees will rise by 13.5% this month, orders Buenos Aires Province Axel Kicillof, in defiance of President Javeir Milei’s cost-cutting plans.

Strikes pile up amid sting of Milei’s shock therapy

21-02-2024 16:03 Rail service, healthcare and schools all face disruption; Unions pushing back against government austerity measures.

Brazil’s economic activity caps 2023 with better-than expected growth

19-02-2024 14:05 Brazil’s economy grew more than expected in December, indicating activity is still showing some resilience to high interest rates as President Luiz Inacio Lula da Silva readies higher government spending. 

Milei devalues peso by 54% in first batch of shock measures

12-12-2023 19:46 Economy Minister Luis Caputo devalues peso by 54% and announces a swathe of spending cuts President Javier Milei’s shock-therapy programme gets underway.

Uruguayans pile into Argentina to spend record US$1 billion

30-10-2023 11:11 Uruguayans are taking advantage of Argentina's deep economic crisis with food, vacations and shopping costing a fraction of the price back home.

Chile President Boric plans 3.5% spending hike, vows economic revival

29-09-2023 09:22 Chile's left-wing President Gabriel Boric says he plans to raise public spending by just 3.5Y next year, less than in 2023, as the government struggles to deliver on its key policy proposals.

IMF says Argentina’s spending adds risks to US$44-billion deal

28-09-2023 15:41 “The recently adopted policy measures and announcements add to Argentina’s challenges,” IMF chief spokesperson Julie Kozack said at a press conference in Washington.