Argentina: public finances

Does Argentina's government have a budget surplus?

Argentina's national public sector recorded a financial surplus of $635,529 million in August 2026, according to the Ministry of Economy's release of 18 September 2026. The primary surplus, before interest, was $1,990,322 million.

Over the first eight months of 2026, the ministry puts the financial surplus at about 0.2% of GDP and the primary surplus at about 1.1% of GDP. The figures are on a cash basis for the national public sector and do not include provinces and municipalities.

Official sources: Ministry of Economy: fiscal result, August 2026

How much tax does Argentina's government collect?

Tax revenue of Argentina's national public sector grew 35.1% in August 2026 from a year earlier, according to the Ministry of Economy's fiscal release. Total revenue was $15,027,157 million, up 32.2%.

These growth rates are nominal; with consumer prices up about a third over the year, real growth is much smaller. The figures cover the national public sector on a cash basis, so they do not show the taxes collected by provinces and municipalities.

Official sources: Ministry of Economy: fiscal result, August 2026

How much does Argentina spend on pensions and social benefits?

Argentina's national government spent $8,401,245 million on social benefits in August 2026, 33.7% more than a year earlier, according to the Ministry of Economy's fiscal release. That was about 64% of primary spending of $13,036,836 million.

Social benefits are mainly pensions, together with family allowances and other transfers to households. Wages of public employees were $1,603,158 million, up 24.0%.

Official sources: Ministry of Economy: fiscal result, August 2026

How much does Argentina spend on energy subsidies?

Argentina's economic subsidies totalled $1,270,715 million in August 2026, 36.7% more than a year earlier, according to the Ministry of Economy's fiscal release. The ministry links the rise to higher power generation costs resulting from the crisis in the Middle East.

Economic subsidies are mostly payments to keep electricity, gas and transport prices below cost. Regulated prices, which include utilities, rose 2.3% in September 2026 in INDEC's consumer price index.

Official sources: Ministry of Economy: fiscal result, August 2026 · INDEC: consumer price index, September 2026

How much does Argentina pay in interest on its debt?

Argentina's national public sector paid $1,354,793 million in net interest on public debt in August 2026, according to the Ministry of Economy's fiscal release. That turned a primary surplus of $1,990,322 million into a financial surplus of $635,529 million.

Net interest excludes payments between public sector bodies. Interest is the main difference between the primary balance, which shows whether the government covers its day-to-day spending, and the financial balance, which also covers the cost of past borrowing.

Official sources: Ministry of Economy: fiscal result, August 2026

What does Argentina's 2027 budget plan?

Argentina's 2027 budget bill plans a financial surplus for the fourth year in a row, Economy Minister Luis Caputo said on 15 September 2026, as reported by the Ministry of Economy. The bill was presented to Congress that month.

A financial surplus means revenue covers all spending, including interest. Congress can amend the bill before approving it. Execution during the year is reported in the ministry's monthly fiscal results; in the first eight months of 2026 the financial surplus was about 0.2% of GDP, according to its August release.

Official sources: Ministry of Economy: Luis Caputo on the 2027 budget · Ministry of Economy: fiscal result, August 2026

What is Argentina's debt to GDP ratio?

The latest figure from the IMF, for 2025, is 80.1% of GDP. The peak was 153.4% of GDP in 2023 and the low 38.9% of GDP in 2011. Latin America & Caribbean median: 65.6% of GDP; Argentina is 9th highest of 31. Of 185 countries with 2025 data, 44th highest.

What is Argentina's fiscal deficit?

The IMF puts general government net lending or borrowing in Argentina at -0.2% of GDP in 2025 (a deficit). Its high point since 2005 was 2005, at 3.3% of GDP; its low point was 2020, at -8.7% of GDP. It is 3rd highest of 32 in Latin America & Caribbean, where the median is -2.8% of GDP. World rank, highest first: 38th of 188.

How much revenue does Argentina's government raise?

The latest figure from the IMF, for 2025, is 31.0% of GDP. Its high point since 2005 was 2015, at 35.4% of GDP; its low point was 2005, at 27.8% of GDP. Across Latin America & Caribbean the middle value was 24.9% of GDP, and Argentina placed 5th highest of 32. Worldwide: 72nd of 187.

How much does Argentina's government spend?

In 2025, general government spending in Argentina was 31.1% of GDP, according to the IMF. Its high point since 2005 was 2020, at 42.5% of GDP; its low point was 2005, at 24.4% of GDP. It is 12th highest of 32 in Latin America & Caribbean, where the median is 26.7% of GDP. Worldwide: 88th of 186.

What is Argentina's tax to GDP ratio?

The IMF puts central government tax revenue in Argentina at 10.4% of GDP in 2024. Its high point since 2005 was 2008, at 13.3% of GDP; its low point was 2018, at 9.8% of GDP. It is 13th highest of 14 in Latin America & Caribbean, where the median is 15.0% of GDP. Worldwide: 83rd of 92.

How much does Argentina spend on its military?

SIPRI puts military spending in Argentina at 0.6% of GDP in 2025. That is the lowest since at least 2005. It is 18th highest of 22 in Latin America & Caribbean, where the median is 1.0% of GDP. Of 149 countries with 2025 data, 135th highest.