Argentina
The dispute over Vaca Muerta and the social impact of lower inflation are projected toward 2027
According to La Nacion, the governing coalition faces a more complex political scenario ahead of the next presidential election. In that analysis, Kirchnerism seeks to capitalize on the discontent of sectors affected by the economic program and on expectations surrounding Vaca Muerta’s resources.
Looking ahead to 2027, the political landscape appears shaped by a deep dispute between Javier Milei’s Government and Kirchnerism, with Vaca Muerta, the slowdown in inflation and the uneven effects of the adjustment as central axes, according to La Nacion.
The newspaper said the hardest-line opposition is approaching the next presidential cycle with renewed incentives to try to return to power. Among them, it mentioned the economic appeal of Vaca Muerta, the possibility of receiving a more orderly macroeconomy after the electoral cost of the adjustment and Kirchnerism’s ability to organize its structure at a decisive stage.
From the government’s perspective, always according to La Nacion, the recent legislative disputes over Garrahan, disability and university funding were interpreted as an offensive against fiscal balance, which the Government considers the core of its economic program. The same criterion, the outlet added, will carry over into the debate over the budget law.
La Nacion also noted that Kirchnerism found in debtors an initial tool to condition the public agenda. The Government, the newspaper indicated, took time to respond and only managed to organize its defense when an X post circulated with a report by sociologist Matias Fernandez, professionally linked to Mercado Libre, prepared with official data from the Central Bank’s Central Debtors registry.
Now, according to that analysis, the discussion is moving to another terrain: that of the winners and losers of the economic model. La Nacion described what had previously been summed up as “heterogeneity” as beginning to take shape as a clearer divide between favored and harmed activities, with a focus on employment, industry, construction and consumption.
At that point, the newspaper stressed that even dynamic sectors such as oil & gas are showing declines in formal private employment. It cited that in November 2023 there were 94,600 salaried workers in that segment and that by September 2025 the figure had fallen to 87,500. The explanation, always according to La Nacion, combines structural factors, such as technologization and cost rationalization, with cyclical ones, such as lower production in mature basins.
The debate has also begun to surface within the governing coalition itself. La Nacion highlighted remarks by Patricia Bullrich at the University of San Andres, where she said she would prefer a tax cut for all sectors and not only for those that access the RIGI or the Super RIGI. The outlet interpreted that stance as a distancing from sectors that, under that view, are left out of the current scheme’s benefits.
At the same time, the budget debate will once again bring the discussion over the use of public resources to the forefront. According to La Nacion, questions will arise there about the Government’s priorities among areas such as university funding, Defense and the SIDE, in a standoff that will combine fiscal balance with the political and social cost of the economic program.
Fuentes
Sobre esta nota. Redactada por El Notero con asistencia de inteligencia artificial, a partir de lo publicado por el medio citado. El Notero no hizo reporteo propio sobre este hecho.
