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Santa Fe Submits 2026 Budget Prioritizing Savings-Funded Investment, Forecasts Small Surplus

The proposal channels austerity gains into infrastructure investment, with external credit lines advancing.

Overview

  • Economy Minister Pablo Olivares filed a fully digital ARS 14 trillion budget with the Legislature on October 31, complying with the new constitutional deadline under decree No. 2703.
  • The plan projects a fiscal surplus of ARS 6.9 billion and an economic saving of ARS 1.75 trillion to finance roughly 91.7–92% of capital spending.
  • Major allocations target education (about ARS 2.96 trillion), security (about ARS 1.66 trillion), public works (about ARS 1.86 trillion), health (about ARS 1.5 trillion) and productive infrastructure (about ARS 673 billion).
  • The framework follows national assumptions of 5% growth, 14% average inflation and a ARS 1,423 exchange rate, with foreign-currency debt at roughly 1.28–1.3% of projected spending.
  • Officials reported CAF credit procedures completed and said a planned US$1 billion international placement is near, and they signaled wage talks with public-sector unions after the October inflation reading.