The National Public Sector recorded a primary surplus of 0.6% of GDP and a financial surplus of 0.1% between January and June 2026, the Economy Ministry reported.
The result held despite the deficit recorded in June, driven by the payment of mid-year bonuses and the postponement of income tax deadlines. That month, the SPN posted a primary deficit of 696.843 billion pesos and a financial deficit of 1.024.891 billion pesos.
Economy Minister Luis Caputo attributed the accumulated surplus to public spending adjustments, which allowed national tax reductions equivalent to nearly 3% of GDP since 2024. Social benefits rose to 11 trillion pesos in June, while economic subsidies reached about 1 trillion pesos.
The government maintains fiscal balance as the central pillar of its economic program. In the coming hours, Caputo will meet with sector representatives to consider a possible new extension of the tax calendar.
