Buenos Aires, November 23 – Following the long weekend, Governor of Buenos Aires Axel Kicillof will begin a crucial week for the 2026 Budget, the Tax Law, and Financing. These projects were sent to the provincial Legislature for consideration, and he will continue negotiating until the last moment to achieve consensus with the opposition and get them approved. According to the Argentine News Agency, the package was sent in the first days of November, and while all three laws are important, the focus of the Buenos Aires administration is on securing authorization to take on debt of up to $3.034 billion, which requires a two-thirds majority vote. This is essential for meeting public debt maturities scheduled for March and September, as well as for the funds that 135 municipalities will receive, many of which are struggling to pay salaries and bonuses in December. The intention is to pass the package of projects in the Buenos Aires Legislature next Wednesday, November 26, in both chambers, the Argentine News Agency learned from official sources. The last time Kicillof had a Budget approved by the Legislature was in 2023; since then, it has been continuously extended due to a lack of agreement between La Cámpora and the provincial governor. In this context, negotiations led by Kicillof's representatives are more advanced with the opposition than with hardline Kirchnerism. With the latter, tensions remain high, and it is unclear if they will secure the votes of lawmakers aligned with Máximo Kirchner amid the deepening internal Peronist conflict following the electoral setback on October 26. During the negotiations, the provincial governor guaranteed a sum to the municipalities within the Municipal Strengthening Fund included in the debt request, a demand made by opposition and Peronist mayors alike. According to sources in Kicillof's inner circle, the fund would be guaranteed regardless of whether the debt is taken. Article 3 of the financing project provides for the creation of the 'Municipal Investment Strengthening Fund,' which will consist of 8% of the debt placed by the Buenos Aires central administration. The financing project contains two major debt requests: one for up to $1.045 billion and another for up to $1.990 billion. It also includes an issuance of $250 million in bonds and two authorizations for state-owned companies: one for Centrales de la Costa for up to $150 million and another for AUBASA for up to $250 million.
