Argentine President Javier Milei has secured a decisive victory in the country’s midterm legislative elections, winning broad public support to continue his radical economic overhaul despite widespread discontent with austerity policies.
The result marks a significant political rebound for Milei, whose approval ratings had slipped in recent weeks amid frustration over spending cuts and subsidy reductions. It also represents a boost for U.S. President Donald Trump, whose administration previously backed Argentina with a multi-billion-dollar bailout.
Milei Strengthens Grip on Congress
According to official results, Milei’s La Libertad Avanza party captured 41.5% of the vote in Buenos Aires province, narrowly beating the Peronist coalition’s 40.8%. The victory in the Peronists’ longtime stronghold marks a dramatic shift in Argentina’s political landscape.
Nationwide, La Libertad Avanza will hold 64 seats in the Chamber of Deputies, up from 37, strengthening Milei’s position to block any congressional vetoes of his policies. Analysts said the outcome exceeded even the most optimistic projections for the libertarian president.
“Argentines showed that they don’t want to return to the model of failure,” Milei declared in his victory speech to cheering supporters in Buenos Aires.
Economic Impact and International Reaction
Economists say the results will allow Milei to defend his decrees and vetoes more easily, giving him the political capital to accelerate deregulation and fiscal reform. His government has already reduced monthly inflation from 12.8% before his inauguration to 2.1% last month, while achieving a budget surplus.
To reinforce Milei’s program, the Trump administration offered a $40 billion support package, including a $20 billion currency swap and a proposed $20 billion debt investment facility. The White House has not yet commented on the election outcome.
Foreign investors have praised Argentina’s progress in stabilizing prices and restoring market confidence. Analysts expect Argentine bonds and stocks to rally when markets reopen, though some predict a peso devaluation to align with inflation control measures.
Low Voter Turnout and Political Realignments
Turnout reached just 68%, the lowest in over a decade, reflecting voter fatigue with austerity and corruption scandals. Political scientist Maria Laura Tagina said disillusioned voters likely stayed home but added that Milei’s decisive margin gives him momentum to expand alliances, possibly including figures from the centrist PRO party led by former President Mauricio Macri.
Half of the 127 seats in the lower chamber and 24 Senate seats were contested in Sunday’s vote. Despite the Peronists maintaining the largest minority in both houses, Milei’s expanded influence signals a new phase of legislative stability for his administration.
In his post-election remarks, Milei emphasized unity and cooperation: “There are dozens of deputies and senators from other parties with whom we can reach basic agreements.”
