Argentina's tax revenues plunge 6.5 billion in first half of 2026

A report by the Instituto Argentino de Análisis Fiscal shows that Argentina’s federal and provincial tax collections fell by a combined $6.5 billion in the first six months of 2026. The national treasury lost about $5.32 trillion, a 6.4 % real year‑on‑year decline, while provinces and the autonomous city of Buenos Aires saw a 3 % drop amounting to $1.21 trillion. The fall reflects weaker economic activity, reduced tax rates and a sharp drop in export duties.

Provincial data reveal uneven impacts: Mendoza’s total revenue slipped 2.2 % to 2.39 trillion pesos, with modest gains in some taxes offset by declines in others. Misiones experienced a steeper contraction, its own tax collection falling 21.1 % to 532 billion pesos, the biggest six‑month drop since 2020, driven mainly by a 20.9 % fall in gross revenue tax.

In June 2026 the federal government cut non‑automatic (discretionary) transfers to provinces by 87.7 % YoY, the sharpest reduction since at least 2005, bringing total discretionary outlays to just $48.3 billion. Accumulated non‑automatic transfers for the first half of the year were down 61.8 % YoY, marking the second‑worst semester on record.