Argentina spends less on defense than any country in South America, and its plan to fund new weapons from asset sales faces a hard fiscal test.
President Milei's Plan ARMA redirects 10% of privatization proceeds to boost Argentina's defense budget—South America's lowest at 0.5% of GDP. The scheme's success hinges on uncertain, slow asset sales while budget cuts already strain military base operations.
Argentina · Defense
Key Facts
—The gap. Argentina spends a smaller share of its economy on defense than any other country in South America.
—The fix. President Milei has created a new fund that diverts a slice of privatization proceeds to the military.
—The man. The plan is driven by the first military officer to run the defense ministry since democracy returned in 1983.
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