Argentina’s government presented its 2027 budget proposal to Congress, outlining President Javier Milei’s economic projections and spending priorities ahead of the October 2027 presidential election, in which he is widely expected to seek re-election. The bill forecasts GDP growth of 4% in 2027, up from an expected 3% this year, while annual inflation is projected at 18%, compared with 29% this year. It also anticipates a trade surplus of more than $15 billion next year. The proposal is expected to serve as the administration’s final full-year fiscal plan before the vote and as a roadmap for its economic and political priorities. It will go first to the budget committee and then to Congress. Argentina has previously operated for extended periods without an approved budget, using the prior year’s budget as a fallback. The proposal comes as Milei has said Argentina should raise defense spending to strengthen its sovereignty claims over the Falkland Islands, known in Argentina as the Malvinas. Since taking office in late 2023, he has focused on spending cuts and eliminating the fiscal deficit through austerity measures that have sharply reduced public expenditure.