Argentine senators debate Mileis 2026 budget bill

Argentine senators have begun debating the 2026 budget bill. President Javier Miei’s government hopes to have the budget passed by the end of the year, and intends to maintain a fiscal surplus in 2026. If the bill is passed, it would be the first time the Milei administration has gotten a budget bill through Congress. The government has been working under a modified version of the 2023 budget since taking office — it did not file a bill for 2024, and Congress did not debate the one it sent for 2025. It is the first time in history that the same budget has been used for three years in a row. The bill being debated estimates economic growth of 5% for 2026, annual inflation of 10.1%, and a dollar exchange rate of around AR$1,423 in December next year. The session, which started Friday at noon, is expected to be lengthy, as 33 lawmakers have signed up to speak. At the start of the session, 47 senators from all parties were present. The debate will focus on two chapters in particular. Chapter 11 included the repeal of the Disability Emergency and University Financing laws. It was rejected by the lower house last week. If the Senate approves it, the bill would have to go back to the Chamber of Deputies. Chapter 30 eliminates the current minimum investment in science and technology, which is calculated as a percentage of GDP. Chapter 12 controversially introduces new requirements for universities to give detailed information on how they spend funds. Under this article, the government could stop making payments if universities fail to provide these details. After the national anthem was sung at the start of the session, Vice President Victoria Villarruel swore in Enzo Fullone, a libertarian from Río Negro. He replaced Lorena Villaverde, who was unable to take her seat after the opposition challenged her position because of an incident in which she was caught entering the United States with a kilo of cocaine in 2002. Last week, Milei denied rumors that he would veto the bill his government filed in Congress, after the Lower House approved it as a general item but rejected chapter 11. The government considers the chapter vital to avoiding a fiscal deficit, Milei’s main goal. In an interview with LN+ news channel, Milei said that having the budget approved by the lower house was “very important” and explained that his government would reallocate expenses to make up for the rejected article.  This means new cuts could be made in other areas.