Milei’s Approval Rating Sinks Below 40% Ahead of Argentina’s Midterms

By Staff, Agencies

Argentine President Javier Milei’s approval rating has dropped to 39.9% — the lowest since he took office — as austerity measures, inflation, and corruption scandals erode public confidence ahead of the October 26 midterm elections, according to a LatAm Pulse survey by AtlasIntel for Bloomberg News.

The poll shows Milei’s disapproval climbing to 55.7%, marking his third consecutive monthly decline.

It also reveals a tightening race between Milei and Buenos Aires Governor Axel Kicillof, his main Peronist rival, whose favorability has risen to 40% from 26% earlier this year.

Public frustration has mounted over Milei’s sweeping “chainsaw” economic program, which imposed deep spending cuts, slashed subsidies, froze public works, and reduced welfare transfers.

Although inflation has begun to ease, the initial shock has left millions poorer, with poverty exceeding 50% in early 2024 and real wages sharply down.

The AtlasIntel survey found that over two-thirds of Argentines view the economy as poor and unlikely to improve, while only 17% see conditions as good.

The peso has fallen more than 7% this month — the steepest decline among emerging markets — despite US efforts to stabilize it following a key provincial defeat for Milei’s party.

Meanwhile, corruption allegations have further damaged the administration’s image. Milei’s Buenos Aires candidate, José Luis Espert, withdrew from the race amid reports linking him to a drug trafficker wanted by the US.