Argentines participated in critical legislative elections on Sunday, which will assess support for President Javier Milei’s aggressive free-market reforms and deep austerity measures. The outcome will indicate whether he possesses the political backing needed to continue his comprehensive economic transformation.
Milei’s party, La Libertad Avanza, is seeking to bolster its current minority in Congress, which includes only 37 deputies and six senators. The president’s reforms have been designed to enhance investor confidence, especially in light of recent support from U.S. President Donald Trump, who has offered Argentina significant financial aid but signaled he might withdraw if Milei does not perform well in the elections.
During a campaign rally in Rosario, Milei urged supporters not to lose hope, stating, “Don’t give up because we’re halfway there. We’re on a good path.” Voters could influence the direction of Argentina’s political landscape, as half of the lower Chamber of Deputies and a third of the Senate are contested in this midterm vote. Currently, the Peronist opposition holds a dominant minority in both chambers.
Milei himself cast his vote in a Buenos Aires neighborhood and refrained from making statements to the media. Many voters expressed a desire to continue backing his economic overhaul, viewing this election as vital for Argentina’s future. A university student mentioned, “Milei is risking it all for a deep change and he needs support because it’s not an easy task after years of populism.”
However, not all voters share this optimism—some voiced concerns regarding the slow pace of economic recovery. The White House, alongside foreign investors, noted improvements such as a dramatic reduction in inflation from 12.8% before Milei’s inauguration to 2.1% last month, a notable fiscal surplus, and extensive deregulation.
Despite these achievements, Milei has faced declining popularity, driven by discontent over spending cuts and a corruption scandal involving his sister, who also serves as his chief of staff. Axel Kicillof, the governor of Buenos Aires province, sharply criticized the administration during a campaign event, claiming that Milei’s adjustments have been made with cruelty and malice.
Political analysts suggest that if Milei secures over 35% of the vote, it would positively bolster his government. Success could allow Milei to form alliances to counter opposition efforts aimed at reversing his austerity measures. Meanwhile, the Peronist movement faces a challenge, as many of their seats are up for election.
The outcome of today’s elections will be critically monitored by both local and international observers. Additionally, experts are predicting potential adjustments in currency values based on the election results, particularly concerning the peso, which many believe has been artificially overvalued to control inflation.
As the electoral process unfolds, hope remains that Milei’s administration, despite the challenges, can achieve the envisioned economic progress while engaging meaningfully with the electorate to foster a more stable future for Argentina.