Argentina Deepens Fiscal Adjustment: October Spending Down 5.4% Real, 3.2% YTD

Argentina's public spending fell 5.4% in real terms in October, the second-largest monthly cut this year, with most reductions concentrated in transfers to provinces. Pensions and universities saw real increases, indicating targeted austerity. This continues the government's established fiscal consolidation path, with the 2026 cumulative decline at 3.2%.

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