Milei’s party wins the elections in Argentina with a large majority

The president’s party emerges victorious in the legislative elections. Better-than-expected performance is seen as endorsement of candidates for ultra-liberal economic reforms.

The president of Argentina, Javier Milei, obtained this Sunday (10/26) the approval of the candidates to move forward with his radical reform of the economy, despite widespread criticism of the austerity measures he adopted.

Milei’s party, La Libertad Avanza (LLA), emerged victorious in the mid-term legislative elections, which renewed half of the Chamber of Deputies and a third of the Senate, with around 40% of the votes. The result was much better than what Milei and her supporters expected. The Peronist opposition obtained around 25%.

The good vote can be understood as broad support from the Argentine population for Milei’s government, which will complete two years in power in December. The greatest achievement was the reduction of inflation through a severe adjustment plan which, on the other hand, generated unemployment, precariousness in the job market and turbulence in the financial markets and increased the country’s debt.

The scandals and allegations of corruption involving the president and his close associates, including his sister Karina, had little effect at the polls.

Milei’s proximity to the government of US President Donald Trump, the loans granted to the country by the International Monetary Fund (IMF) and the financial aid from the US Treasury to support the Argentine peso seem to have been accepted by the population.

Decisive for reforms

The elections were decisive for Milei’s ultraliberal agenda and gave him room for maneuver to carry out his policies of economic adjustment and deregulation of the economy in the final two years of his mandate.

During the election campaign, Milei declared that his objective was to win a third of the seats in the Chamber of Deputies to support his reforms. He not only achieved this objective but also came very close to reaching a third of the Senate, considering the strategic alliance with the right-wing PRO party.

After the victory, Milei declared that he will implement “the reforms that are still missing” and that the new Congress will be essential to guarantee this act. “During the next two years, we must advance the reformist path we have started,” he said. “We will have, without a doubt, the most reformist Congress in the history of Argentina,” he added.

Victory also for Trump

The results also pleased President Donald Trump, whose government was critical after granting a vulnerable financial bailout to Argentina.

To contain the devaluation of the peso, Milei burned billions of dollars in foreign exchange reserves. In an extraordinary action, the Trump administration offered a bailout worth 40 billion dollars, including a 20 billion dollar currency swap already contracted and a proposed credit line of another 20 billion.

Trump conditioned aid to Argentina on a victory for Milei at the polls. “If he wins, we will stay with him; if he doesn’t win, we will leave,” he said at the beginning of the month, after receiving Milei at the White House.

This Sunday, the American president congratulated the Argentinean on his “overwhelming victory” in the legislative elections. “He is doing an excellent job! The Argentine people justified our trust in him,” Trump wrote on his social network, Truth Social.

One more chance for Milei

Analysts said the better-than-expected performance could be a sign that, faced with the risk of new economic turmoil, Argentines felt it was better to opt for Milei’s austerity policies, which, despite having subsidies used by many Argentines, at least managed to significantly slow down inflation.

This was the analysis of the director of the research company Zuban Córdoba, Gustavo Córdoba, who declared himself surprised by Milei’s performance and that at this moment the results of the polls reflect concern about the potential repetition of the economic crises of previous governments. “A lot of people were willing to give the government another chance,” he said. “We will see how long Argentine society will give the government. But the triumph is unquestionable,” he told the Reuters news agency.

Political scientist Maria Laura Tagina of the National University of San Martin said that although Milei’s approval rating has suffered due to austerity measures and corruption scandals, it is possible that disillusioned Argentines have decided to stay home. Voter turnout was about 68%, the second lowest in more than a decade, according to media reports.

The electorate seems divided between the beneficiaries of Milei’s reforms and those who have never faced so many difficulties in surviving. At a soup kitchen in suburban Buenos Aires, Epifanía Contreras, 64, said she felt she was bearing the brunt of the renovations. “You can’t live on a pension of 290,000 pesos a month with current inflation,” she said. “The situation is getting worse and worse.”

“I vote for obligations, nothing more,” said real estate agent Matías Paredes, 50, whose foreign clientele was supported by Milei’s strong exchange rate. “None of these figures inspire optimism. We are just choosing the lesser evil.”

What’s next

The results automatically positioned Milei as a candidate for re-election in 2027. He hinted at a ministerial reform after the election, which could include members of the centrist PRO party, a frequent ally of the government in Congress and which is led by former president Mauricio Macri.

According to his own statements and that of members of his party, the president intends to implement a new tax regime and a substantial change in labor laws.

Milei came to power with the promise of reducing taxes, something that he has not achieved so far, and which has been demanded by several national productive and business sectors, as well as by foreign investment groups. Furthermore, Milei intends to modify hiring procedures, make social security contributions more flexible and restrict union representation.

Originally published by DW on 10/27/2025

By Alexandre Schossler with AP, Reuters and Efe