The National Public Sector recorded a primary surplus of $1.99 trillion in August and a positive financial result of $635.529 million
The Minister of Economy, Luis "Toto" Caputo, highlighted the result through his X account and stated: “Since the beginning of the administration, fiscal order has been achieved through the reduction of public spending, while simultaneously implementing a tax reduction equivalent to around 3% of GDP.”
The Government of Javier Milei closed August with a new primary surplus of $1,990,322 million and a financial surplus of $635,529 million, according to data released by the Ministry of Economy.
The financial result represented a year-on-year improvement of 62.8%, while the net interest from intra-public sector holdings amounted to $1,354,793 million during the month.
With this performance, during the first eight months of 2026, the National Public Sector (SPN) accumulated a primary surplus equivalent to approximately 1.1% of Gross Domestic Product (GDP), while the positive financial result was close to 0.2% of the product.
Among the items that experienced real increases during August were the transfers to universities, which grew by 9.7% year-on-year. PAMI benefits also increased, with a rise of 4.9%; the Universal Child Allowance (AUH), which advanced by 4.7%; and non-contributory pensions, with an increase of 4.2%.
Additionally, Caputo noted that the projections included in the 2027 Budget project that the SPN will achieve a financial surplus next year and meet its obligations for the fourth consecutive year. The minister described this scenario as “unprecedented in the country's history.”
The budget project contemplates a primary surplus of 1.3% of GDP for both 2026 and 2027. In nominal terms, these results represent $15,537,381.1 million and $18,439,871.9 million, respectively. The financial result, which incorporates debt interest payments, stands at 0.2% of GDP in both fiscal years.
