"The budget includes spending of $102 billion (86.7 billion) and projected growth of 5%, with inflation of 10.1%. It aims to secure a zero deficit mostly through spending cuts. "We are not going to spend more than we make, we are going to get our accounts in order," said Senator Ezequiel Atauche, a member of Milei's party. Argentina President Javier Milei is known to be close to US President Donald TrumpImage: Jonathan Ernst/REUTERS"
"Last week, thousands took to the streets in Buenos Aires to protest against the Argentine leader's proposed reforms involving the country's labor laws. Milei responded by promising "a lot more reforms." The leader's party, La Libertad Avanza, made significant gains in the newly elected Congress, with the government hoping this will help in pushing forward its reforms to Argentina's labor and tax systems."
Argentina's Congress approved the 2026 budget after the Chamber of Deputies and the Senate vote of 46 in favor, 25 against and one abstention. The budget allocates $102 billion (86.7 billion) in spending, projects 5% economic growth and estimates inflation at 10.1%. The plan aims for a zero fiscal deficit primarily through spending cuts. The government previously extended the 2023 budget without congressional approval, contributing to inflation across sectors. Large protests in Buenos Aires opposed proposed labor law reforms, and the president pledged further reforms. La Libertad Avanza made gains in the new Congress to support labor and tax changes.
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