Overview

• Deputies will open the 2026 budget discussion on Wednesday at 13:00 in the Budget Committee chaired by José Luis Espert, who convened a meeting to define the work plan.
• The opposition seeks to summon Economy Minister Luis Caputo and central bank chief Santiago Bausili, while the government proposes other economic officials and faces a push to set November 20 as a deadline for a committee report.
• Financial pressure frames the debate, with the exchange rate already above 1,500 pesos, more than US$1 billion in central bank sales over two days, and a country risk level reported as having doubled in two months.
• The bill projects 2026 inflation at 10.1%, growth at 5%, a December dollar of 1,423 pesos, a primary surplus of 1.5% of GDP, and a financial surplus of 0.3%, assumptions critics call unrealistic.
• Spending priorities emphasize pensions, social assistance, health, education and universities—Caputo says 85% goes to human capital—with universities slated for 4.8 billones de pesos, while the plan pairs a lower tax burden with US$17 billion in 2026 debt maturities that narrow fiscal room.