The Government of Javier Milei presented the 2027 Budget Bill with fiscal balance as one of the main pillars of its economic policy for the upcoming year.
The document states that the goal of maintaining public accounts in balance will continue to be a central rule of the administration and projects a new positive financial result for the next year.
According to the project, the National Public Sector would reach resources of $219,300,991.9 million in 2027, equivalent to 15.5% of the Gross Domestic Product (GDP), while expenditures would amount to $216,000,316.5 million.
Thus, a financial surplus of $3,300,675.4 million is estimated, equivalent to around 0.2% of GDP, and a primary result of $18,439,871.9, equivalent to 1.3%.
Javier Milei and Luis Caputo
The official message also states that fiscal policy will continue to be accompanied by tax reduction measures. The document mentions the elimination of the PAIS Tax, the reduction of export and import duties and import tariffs, the gradual elimination of Personal Property Tax, and the implementation of the Labor Assistance Fund.
In total, it claims that these measures reduce taxes by the equivalent of approximately three percentage points of the product.
Economic Growth and Decline in Inflation
In macroeconomic terms, the Budget assumes a 4% GDP growth for 2027, an annual inflation of 18%, and a nominal exchange rate of $1,847.6 per dollar in December.
It also projects private investment with a 9.2% expansion, exports growing 8.5%, and imports increasing 8.2%.
Another highlighted point is social policy. The document notes that during the second half of 2025, poverty stood at 28.2% and extreme poverty at 6.3%, and emphasizes the increase in the Universal Child and Pregnancy Allowance.
For 2027, it proposes to advance with the Human Capital Formation program, aimed at transforming nearly 900,000 social plans into schemes linked to training and formal employment.
President Javier Milei
Modernization of the Armed Forces
Security and defense also appear among the priorities. The message highlights the purchase of 24 F-16 combat aircraft, four P-3s, three-dimensional radars manufactured by INVAP, and the renewal of the Army's tactical fleet. Additionally, it emphasizes the launch in May 2026 of the Argentine Military Adaptation and Re-equipment Plan (ARMA).
In security, Milei's Government proposes to continue with territorial plans in Rosario, Salta, and the Waterway and direct 2027 resources to sustain the state presence in critical territories and ensure the operational continuity of the Forces.
Private Works
The project also proposes a new direction for public works and infrastructure, with greater private participation.
The document states that 2,339 works have been ordered and that direct national management has been limited to 199 projects, while transfers of local interventions to provinces and municipalities are underway. It also proposes the Federal Concessions Network, with private financing and tolls.
Overall, the project presented for 2027 focuses its main guidelines on the continuity of fiscal balance, tax reduction, transformation of social policy, reorganization of the State, private participation in infrastructure, and strengthening of security and defense areas.
