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Argentina Sets 2027 Inflation Target at 18 Percent

By Markets Desk · 2026-09-16 · 1 min read
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Illustration: Tradingbird

The Argentine government filed its 2027 budget bill, projecting 18% inflation and 4% economic growth. These figures represent a significant revision from earlier estimates and set the stage for congressional debates in October.

Argentina’s 2027 inflation forecast stands at 18%. The government filed the budget bill with Congress on Tuesday night. This figure marks a higher projection than the 10.1% estimated in the previous fiscal plan. The official estimate for 2026 inflation has also been raised to 29% by December.

Economic growth is projected at 4% for the coming year. This is a downward revision from the 5.4% growth rate targeted in the 2026 budget. Actual growth in the first half of 2026 reached only 1.9%. The slowdown was driven by declines in industry, commerce, and investment sectors.

Fiscal Surplus Targets Remain Central

The administration maintains its goal of a zero-defit fiscal policy. Economy Minister Luis Caputo stated that the country aims for four consecutive years of fiscal surplus. The projected primary surplus is US$18.44 trillion, equivalent to 1.3% of GDP.

After debt interest payments, the net fiscal surplus is estimated at US$3.30 trillion. This amount represents 0.2% of the gross domestic product. The government expects exports to exceed US$130 billion in 2027.

Exchange Rate And Salary Projections

The official exchange rate is expected to reach AR$1,847.60 per dollar. This is above the current rate of AR$1,530. The previous government target for December 2026 was AR$1,423 per dollar.

Salaries are projected to rise by 25% next year. This increase is expected to outpace the 18% inflation rate. The government cites this gap as a positive factor for household purchasing power.

Congressional Debate Scheduled For October

The bill was submitted minutes after 10 p.m. on Tuesday. This met the September 15 deadline for executive submission. President Javier Milei will not deliver a televised address to explain the budget.

Commission debates in the Lower House are expected to begin in the first week of October. No specific date has been set for a floor vote. Ruling party La Libertad Avanza must negotiate with allies and the opposition to secure passage. As noted by GN markets, the legislative process will be a key test for the administration's fiscal agenda.

Based on reporting by Buenos Aires Herald, compiled by the Tradingbird desk.

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