Argentina’s Congress on Friday approved the 2026 budget suggested by President Javier Meili, the first since he was elected president two years ago.
Earlier, Miley’s government had extended the budget to 2023 without passing the bill in Congress, resulting in rising inflation across all sectors.
What do we know about the recently passed budget?
The Senate passed the budget with 46 votes in favor, 25 votes against and one abstention. The vote took place after the lower Chamber of Deputies gave its approval.
The budget includes spending of $102 billion (€86.7 billion) and projected growth of 5%, with inflation of 10.1%. Its goal is to secure zero deficit mostly through spending cuts.
Senator Ezequiel A. Touche, a member of Miley’s party, said, “We are not going to spend beyond our income, we are going to settle our accounts.”
Last week, thousands of people took to the streets in Buenos Aires to protest the Argentine leader’s proposed reforms to the country’s labor laws.
Miley responded by promising “a lot of improvements”.
The leader’s party, La Libertad Avanza, made significant gains in the newly elected Congress, which the government hopes will help it pursue reforms in Argentina’s labor and tax systems.
Edited by: Rana Taha