Argentina posts June fiscal deficit but keeps first‑half surplus

In June 2026 Argentina’s national public sector recorded a financial deficit of about $1.02 billion and a primary deficit of $697 million, driven by the postponement of the personal income‑tax deadline and higher seasonal spending on aguinaldos. Total revenues for the month reached $14.16 trillion while expenditures rose to $14.86 trillion, with social benefits accounting for $11.06 trillion.

Despite the monthly shortfall, the first half of 2026 closed with a primary surplus equal to 0.6 % of GDP and a financial surplus of 0.1 % of GDP. The government highlighted that the fiscal balance was maintained through cuts in public spending and a reduction of national taxes amounting to nearly 3 % of GDP. However, the cumulative primary surplus of $6.3 trillion fell short of the target agreed with the International Monetary Fund (IMF) of $6.861 trillion, a gap that will need to be explained before the IMF’s upcoming review that could unlock a $680 million disbursement.