Overview
- Across 19 jurisdictions, Q3 2025 figures show current revenues up 3.2% in real terms to $83 trillion, primary spending up 11.9% to $81.8 trillion, a primary surplus of $1.6 trillion down 78% year over year, and a financial surplus of $7,347 million down about 99% after $1.6 trillion in interest payments.
- Aggregate coparticipation resources slipped 0.2% in real terms as provincial own taxes rose 4% to $27.8 trillion, with FIEL highlighting rigid wage and pension costs that limit adjustment capacity.
- Fiscal results diverged: Formosa, Santiago del Estero, Neuquén, San Juan, and Jujuy posted primary and financial surpluses, Córdoba and Buenos Aires City remained orderly, while Buenos Aires Province, Santa Fe, Chaco, Chubut, and Tierra del Fuego worsened; Entre Ríos, Río Negro, Salta, and Tucumán showed near‑steady balances.
- Budget 2026 passed with pivotal support from lawmakers tied to Catamarca, Tucumán, Jujuy, Neuquén, Salta, and Santa Cruz, while Formosa and Santiago del Estero withheld backing and Buenos Aires opposed, and the Provincias Unidas bloc largely abstained.
- Mendoza’s official 2025 accounts report total revenue of $3,907,745 million, up 1.5% in real terms versus 2024 yet still 6.6% below 2023, with royalties down 19% in real terms and gains in Stamp tax (+14% real), Property tax (+38% real), coparticipation (+2.8% real), flat Ingresos Brutos, and a 2.8% real drop in the vehicle tax.