Axel Kiselov yesterday in the Ginastera Room of the Argentine Theater
The region’s House of Representatives is scheduled to meet this morning to discuss the financing law that allows Axel Kiselov’s government to assume debts worth 3,685 million US dollars. The ruling party must collect the votes of two-thirds of lawmakers present to approve the rule and send it to senators for it to become law.
In a marathon session that continued until after midnight on Wednesday, Peronism was able to approve the draft 2026 budget and the tax law. However, the funding law cited by the Kiselov government as necessary was put on hold due to lack of support from La Libertad Avanza, PRO, UCR Cambio Federal and Civic Alliance seats. Who does Campora do?
The Buenos Aires Chamber of Deputies moved forward to approve the budget and the fiscal law, thanks to the votes of Peronism – which did not show major cracks for these initiatives – and the so-called dialogue-oriented liberals, the Somos Buenos Aires bloc; UCR Federal Change and Civic Alliance These last two groups generally supported the project, although there was opposition in some articles.
The debt draft, which was favorably approved by the House Budget and Taxation Committee, authorizes the regional executive to receive a total credit of US$3,685, distributed as follows: US$1,045 million for debt repayment; $1,990 for public sector expenditures; US$250 million so that the regional public treasury can issue treasury bills in pesos or other currencies; US$150 million to the state-owned Buenos Aires Energy Company; and US$250 million to Autopistas de Buenos Aires (AUBASA).
The provincial government placed special emphasis on approving debts, in order to develop the regional administration during 2026. “We especially need the financing law and thus maintain normal performance in the coming year,” the provincial leader said during the official presentation of the economic initiatives at the Government House.
But the opposition pointed out that there are differences in Article 3 of the draft law creating the Emergency Fund and Promoting Municipal Investment, with financing at a rate of 8% of the debt proposed in Articles 1 and 2 of the initiative, which will total $3,035 million. In pesos: 360 billion.
The ruling party proposed the creation of a fixed fund worth 120 billion pesos, to be distributed in three annual installments. The opposition believes the figure should be closer to 200 billion pesos. Yesterday they negotiated this point.
Opposition criticism
Another issue in dispute was the appointment of opponents to the board of directors of Banco Provincia, which will be expanded from 8 to 12. The UCR and PRO have asked the government to send specifications before voting on the debt. Will it be fulfilled in such a short time?
The PRO party has received criticism from libertarians and other political sectors for demanding increased public spending with increased BAPRO directors. “Increasing the number of directors of the Buenos Aires Provincial Bank by 50% is something that interests the most corrupt political class,” said Manuel Basalia, the elected representative of San Nicolas who will take office on December 10.
He added: We will have to see who are the ones who allowed such damage to the people of the province of Buenos Aires, and I leave open a question here: What will the members of the party formerly known as PRO and now integrated into the ranks of the libertarians do? Will they get the endorsement of Presidentjmilei who has always bragged about shrinking structures?
In turn, the national representative elected from the La Libertad Avanza party, Sebastian Pareja, questioned the religion and stressed that “it is infuriating that legislators who ended their term in four or five days should legislate on a religion that has condemned the province of Buenos Aires for more than four years.”
The Board of Directors of Banco Provincia includes three members whose terms have been extended for two years. They are Carlos Fernandez, Santiago Nardelli and Laura Gonzalez. With mandate until January 1, 2026 are Sebastian Gallmarini, Alejandro Formento, Bruno Scrinci and Umberto Vivaldo.