Argentina’s President Javier Milei has led his party to a decisive victory in the midterm elections, securing strong legislative support to advance his radical austerity and deregulation agenda. This outcome reinforces his political mandate and ensures the continuation of his economic reforms, which have divided the nation but won backing from key international allies like the United States.
In Sunday’s elections, Milei’s La Libertad Avanza party captured nearly 41% of the vote, a result that far exceeded pre-election polls. The gains translate to 13 of 24 Senate seats and 64 of the 127 contested lower-house seats, significantly boosting his legislative influence. Before this vote, his party held only seven Senate seats and 37 in the lower house, often struggling to pass measures or uphold vetoes. The improved representation marks a dramatic shift, empowering Milei to pursue his agenda with fewer obstacles from opposition lawmakers.
The victory solidifies Milei’s ability to push forward with his ‘chainsaw’ approach to governance, which involves deep spending cuts and free-market reforms aimed at shrinking the state. Since taking office in 2023, he has slashed budgets for education, pensions, health, and infrastructure, while laying off tens of thousands of public sector workers. Supporters argue these measures have tamed inflation, which had soared to triple digits annually, and restored investor confidence. However, critics point to job losses, declining manufacturing, and crumbling public services as the harsh costs of this strategy.
International dynamics played a crucial role, with U.S. President Donald Trump explicitly linking financial support to Milei’s political survival. Trump had warned that a $40 billion lifeline for Argentina, involving currency swaps and private investment, would be withdrawn if Milei lost momentum. The election result ensures this support remains in place, strengthening bilateral ties. Milei echoed Trump’s rhetoric in his victory speech, telling cheering supporters that Argentina must ‘make Argentina great again’ by consolidating the path of reform.
Public reaction was mixed, with hundreds of Milei’s supporters gathering in Buenos Aires to celebrate, expressing hope for long-term change. One voter, Dionisio, noted that with more congressional backing, Milei could ‘change the country in a year,’ while another, Ezequiel, praised the win as a triumph for freedom over previous mismanagement. Yet, others voiced concerns about the ongoing hardships; Juliana, who works with disabled children, feared that strengthened presidential power could endanger funding increases that Milei had previously vetoed.
The election also highlighted widespread voter apathy, with turnout at 67.9%, the lowest in decades for a national election. This reflects deep disillusionment with politicians across the spectrum. For the opposition Peronist movement, the results signal a crisis, as voters rejected a return to the model Milei blames for decades of economic trouble. Analysts suggest Peronism must undergo a serious renewal to remain competitive, especially with Milei already positioning for the 2027 presidential election.
Looking ahead, financial markets are expected to rally on the outcome, affirming investor confidence in Milei’s economic experiment. His enhanced mandate allows for more radical changes in the coming years, but the key question is whether ordinary Argentines will start to feel better off. If the pain of austerity tests public patience, it could reshape the political landscape, but for now, a significant portion of voters appear willing to give Milei more time to deliver on his promises.