Buenos Aires, December 25 (NA) – The first budget of Javier Milei's government, which the ruling bloc seeks to approve this Friday in the Senate, envisions a 5% GDP economic growth, a 1.5% GDP surplus, and allocates 85% of its resources to social spending. The government has already secured approval for the bill in its first reading, as it has the backing of the UCR, PRO, provincial blocs, and four Peronists. Meanwhile, the majority of the Justicialist bloc rejects the project, according to the Argentine News Agency. The main points of the budget project are as follows: an annual inflation rate of 10.4% and a 14% interannual rate for 2026; a 1.5% GDP surplus; a 5% economic growth. The exchange rate band system will be maintained, and the dollar is expected to be higher than projected in the 2023 budget, reaching 142 pesos by December 2026. Total resources amount to 148.2 trillion pesos, with total expenditures of 148 trillion pesos and an estimated primary surplus of 2.7 trillion pesos. 85% of the resources will be allocated to social spending. 65.7 trillion pesos will be allocated for pension payments, and 4.8 trillion pesos will be assigned to National Universities. The bill prevents the National Treasury from financing itself through the Central Bank. Private consumption is estimated to increase by 4.9%, public consumption by 4.5%, and investments by 9.4%. Exports are projected to rise by 10.6%, and imports by 11.1%.
