Overview
- The national government held talks with seven governors this week to speed approval of the Budget 2027 and to build the quorum needed in the Chamber of Deputies.
- The official budget sets macro targets of 4% GDP growth, 18% annual inflation, and an official peso exchange rate near $1,847 for December 2027.
- Private economists say those macro assumptions are optimistic for an election year and place private growth forecasts closer to 2.5–3%, which would lower projected revenues.
- The fiscal plan raises automatic transfers to provinces and CABA while sharply cutting discretionary transfers and deferring most public works spending through plurianual commitments with limited 2027 execution.
- Provinces face a heavy 2027 debt-service load of about $13.16 trillion with more than 80% of their debt in foreign currency, which makes exchange-rate stability central to their budgets and could force cuts or delays in services and projects.