Overview
- The president announced in mid-May that export duties on wheat and barley will fall from 7.5% to 5.5% effective June 2026 to improve margins for growers and influence planting decisions.
- The Economy Ministry published a timetable that starts reductions for soy, maize, sunflower and sorghum in January 2027 with soy falling 0.25 percentage points per month to 21% by end‑2027 and then to 15% by end‑2028.
- Officials said there will be no zero export duties during Milei’s first term under the schedule and the phased approach ties future cuts to the pace of fiscal receipts.
- The government moved the FAL labor reform from June 2026 toward January 2027 because its estimated fiscal cost is large, roughly US$200 million a month, and authorities want to protect the primary surplus.
- Policymakers cited strong early‑2026 export inflows of about US$32.9 billion through April as a buffer but domestic consumption remains weak and core inflationary momentum endures while the IMF presses for a modernized, legally protected INDEC price measure.