President Javier Milei’s party has won Argentina’s midterm elections, giving the libertarian leader a strong foothold in Congress to push his free-market policies, which have earned support from President Trump.
With more than 99 percent of votes counted, Milei’s La Libertad Avanza (LLA) secured 40.7 percent against 31.7 percent for the Peronist opposition alliance, according to tallies based on provisional figures from the electoral commission.
The midterms marked the first national test of Milei’s popularity since taking office in 2023, when he pledged to slash state spending by taking a metaphorical “chainsaw” to the bureaucracy – a promise he underscored literally by waving a real chainsaw at campaign rallies.
The victory comes just weeks after Milei’s party suffered a heavy defeat to the Peronists in a Buenos Aires provincial vote in September, a setback that rattled investors and triggered a sell-off of the peso amid concerns about his political stability. The slide prompted the Trump administration to extend financial assistance to Argentina to help shore up the currency and bolster Milei’s government.
Voter turnout stood at 67.9 percent – the lowest in a national election in decades – reflecting widespread disillusionment with Argentina’s political class as the country continues to grapple with inflation and economic uncertainty.
