Overview

• In a televised address, President Javier Milei called fiscal balance the non‑negotiable cornerstone of his program and acknowledged that many Argentines have not yet felt material improvements.
• He promised for 2026 to raise pensions by five percentage points above inflation and to increase health and education spending by 17 and 8 points, respectively.
• A document transmitted to Parliament and reported by media projects 2026 inflation at 10.1% and economic growth at 5%.
• The proposal now heads to a Congress where Milei's coalition is in the minority, days after he conceded a clear loss in Buenos Aires province.
• Financial markets showed fresh strain with the peso near 1,475 per dollar, as earlier austerity cut inflation from 211% at end‑2023 to 33.6% but coincided with a 1.8% recession in 2024.