Argentine President Javier Milei’s party, La Libertad Avanza, has won a sweeping victory in midterm legislative elections, securing a firm mandate to continue his radical overhaul of the country’s struggling economy.
The stronger-than-expected showing comes as a major relief for Milei, whose popularity had waned in recent weeks, and is expected to bolster his ability to push through market reforms aimed at restoring fiscal stability. The win is also likely to be welcomed by U.S. President Donald Trump, whose administration backed Milei with a multibillion-dollar bailout package.
Analysts said voters may have rallied behind Milei out of concern that abandoning his tough economic policies could reignite Argentina’s history of financial crises. “Argentines showed that they don’t want to return to the model of failure,” Milei told cheering supporters at a hotel in Buenos Aires following the results.
Pollster Gustavo Córdoba said the outcome reflected a cautious faith in Milei’s reforms despite social discontent. “Many people were willing to give the government another chance,” he said, adding that the result gives Milei’s party enough seats in the Chamber of Deputies to block any attempt to override his presidential vetoes.
Marcelo García, Americas director at Horizon Engage, described the result as “better than even the most optimistic Milei supporters were hoping for,” noting it would enable him to defend his decrees and vetoes in Congress and strengthen alliances with moderate legislators.
In his victory speech, Milei signalled readiness to collaborate across party lines, saying there were “dozens of deputies and senators from other parties with whom we can reach basic agreements.”
Official results showed La Libertad Avanza capturing 41.5 percent of votes in Buenos Aires province, long a Peronist stronghold, compared with 40.8 percent for the opposition coalition. Nationally, the party gained 64 seats in the House of Deputies, up from 37, marking a dramatic consolidation of power for the year-old government.
Half of the 257-member lower chamber and a third of the Senate were contested in Sunday’s vote. Despite the gains, the Peronists will retain the largest minority in both houses.
Milei’s economic programme, marked by subsidy cuts and deregulation, has sharply reduced monthly inflation from 12.8 percent before his inauguration to 2.1 percent last month, while achieving a fiscal surplus for the first time in years.
The Trump administration has offered financial support reportedly worth up to $40 billion, including a $20 billion currency swap already signed and a proposed $20 billion debt facility.
