Particle.news
Download on the App Store

Argentina Sets December Extraordinary Sessions as Consejo de Mayo Finalizes Eight-Reform Package

The administration aims to secure the 2026 budget as a market signal through a fast track, deferring pension and revenue-sharing overhauls.

Overview

  • A presidential decree convenes congressional extraordinary sessions from December 10 to 30 with an agenda that includes the 2026 budget, labor reform, a Penal Code overhaul, a Glaciers law update, and fiscal measures such as a fiscal–monetary commitment and a tax compliance initiative.
  • The Consejo de Mayo meets Tuesday at 13:30 to present its final report with eight proposals covering property rights, fiscal balance, deep spending cuts, education, tax reform, natural-resources development, labor rules, and trade openness.
  • Two complex planks—federal revenue-sharing (coparticipación) and pension reform—were pulled from the first package and slated for later debate in 2026.
  • A circulating labor-reform draft details part-time contracts, pay set in pesos or foreign currency and by productivity, a bank of hours, and an optional severance-replacement fund via collective agreement, alongside limits on judicial discretion and adjusted indemnity calculations, drawing public opposition from the CGT.
  • The government prioritizes swift passage of the 2026 budget built on 5% GDP growth, 10.1% inflation, and an exchange rate of 1,423 pesos per dollar, while signaling that not all Council proposals will enter the December docket and backing a Glaciers change that lets provinces define periglacial zones.