President Javier Milei’s party secured a decisive victory in Sunday’s Argentina midterm elections, expanding his control of Congress and giving his government fresh momentum for its deep economic reform agenda.
Marcelo Garcia, Americas director at Horizon Engage, called the outcome better than expected for the president’s supporters. “The result is better than even the most optimistic Milei supporters were hoping for,” Garcia stated.
Javier Milei La Libertad Avanza Win in Key Province
The president’s party, La Libertad Avanza, achieved a historic upset in the Buenos Aires province election results, a region long dominated by the Peronist opposition. The party won about 41.5% of the vote, narrowly defeating the rival coalition’s 40.8%.
Political consultant Gustavo Cordoba noted that “many people were willing to give the government another chance.” Cordoba described the victory as “unobjectionable, unquestionable” for the government.
Impact of Argentina Midterm Elections on Congress
Following the election, La Libertad Avanza increased its seats in the lower house from 37 to 64. “With this result, Milei will be able to easily defend his decrees and vetoes in Congress,” said Marcelo Garcia.
Push for Sweeping Argentina Economic Reforms
The results provide Milei with the political capital to accelerate his agenda of deep spending cuts and sweeping free-market reforms. President Milei has called the moment “a turning point for Argentina.“
Since taking office, Milei’s government has posted a fiscal surplus and pushed through broad deregulation measures in one of Latin America’s largest economies. Inflation has fallen from 12.8% before his inauguration to 2.1% last month.
International Reaction and U.S. Support
The Donald Trump on Argentina election commentary was positive, with the U.S. president offering his congratulations. “He is doing a wonderful job! Our confidence in him was justified by the People of Argentina,” Trump stated.
Future U.S. support was previously tied to Milei’s performance in the midterms. The U.S. government has offered Argentina a $40 billion aid package, which includes a $20 billion currency swap and a proposed $20 billion debt-investment facility.
Investors reacted positively to the election results. Argentine bonds and stocks are now expected to rally following the decisive outcome.
