Argentina’s National Public Sector (SPN) recorded a financial surplus of 977,173 million pesos in September. The primary surplus was 1,427,640 million pesos, while net interest payments on public debt amounted to 450,467 million pesos.
For the first nine months of the year, the SPN’s financial surplus stood at around 0.3% of GDP, with a primary surplus of approximately 1.2%.
Total revenue reached 15,884,585 million pesos in September, up 36.5% year on year. Tax revenue rose 37.2%, marking a further improvement in real terms.
Primary spending totalled 14,456,945 million pesos, up 32.2% year on year. Social benefits accounted for 9,092,917 million pesos, while economic subsidies amounted to 1,258,703 million pesos. Energy subsidies rose 44.1%; the ministry said the measure was intended to soften the impact on residential users of gas price increases linked to conflicts in the Middle East.
Wage costs reached 1,668,761 million pesos. Current transfers totalled 4,380,412 million pesos, including a 42.4% increase in transfers to universities. The ministry said this reflected the implementation of agreements with universities under a law passed by the National Congress in 2025.
Capital spending stood at 561,025 million pesos. The ministry highlighted spending on defence and the resumption of work at the La Barrancosa–Condor Cliff hydroelectric complex.
