Milei Scores Decisive Midterm Win, Revives Reform Agenda in Argentina

By Staff, Agencies

Argentine President Javier Milei achieved a major political victory in Sunday’s midterm elections, reinvigorating his embattled economic reform agenda and solidifying his position two years into his presidency.

With more than 90 percent of ballots counted, official results showed Milei’s La Libertad Avanza [LLA] party securing 40.84 percent of the vote for Congress, outperforming the center-left Peronist movement, which trailed at 31.64 percent. The outcome marks a strong rebound for the right-wing leader after months of political turbulence and policy backlash.

The elections, which saw half of the Chamber of Deputies and one-third of the Senate seats contested, serve as the first nationwide test of Milei’s popularity since he took office in December 2023 on a promise to overhaul Argentina’s troubled economy through deep structural reforms.

Speaking to cheering supporters at LLA’s election night headquarters, Milei hailed the result as “a mandate to continue rebuilding Argentina,” while the crowd erupted in chants, tears, and embraces. Despite his party’s strong showing, Milei will still need to build alliances with centrist and conservative lawmakers to push his legislative agenda through Congress.

The vote took place against a backdrop of economic volatility, including a run on the peso that forced Milei to seek emergency financial support from US President Donald Trump. Washington responded with a $40 billion aid package — the largest in US-Argentine relations — but Trump cautioned he “would not be generous” if Milei lost political ground.

Voter turnout, however, fell to 67.9 percent — the lowest in over four decades — reflecting growing public disillusionment with Argentina’s political elite. Many voters who once backed Milei said they were disappointed by corruption scandals surrounding his allies but still preferred him to the Peronists, long associated with mismanagement and cronyism.

The most striking results came from Buenos Aires province, where LLA narrowly closed the gap with the Peronists after suffering defeat in last month’s local elections.

Since taking office, Milei, a former TV economist and self-proclaimed libertarian, has implemented sweeping austerity measures — slashing tens of thousands of public sector jobs, freezing infrastructure projects and cutting spending on healthcare, education, and pensions. While these moves initially deepened poverty and triggered social unrest, they also succeeded in slashing inflation by two-thirds, earning cautious praise from investors.

Still, economic growth, consumer demand, and manufacturing output have all stagnated, raising questions about the long-term viability of Milei’s shock therapy model.

Last month’s selloff of the peso underscored these concerns, but Sunday’s strong electoral showing has given Milei renewed political momentum — and perhaps a second wind to push forward his controversial vision of a leaner, deregulated Argentine state.