Milei Secures Landslide Midterm Win, Strengthening Grip on Argentina’s Economy

Argentina’s president Javier Milei won a landslide midterm victory, strengthening his power to push austerity and free-market reforms. Supporters praise his economic gains, while critics blame him for hardship and job losses.

Argentina’s president Javier Milei has led his party to a landslide victory in Sunday’s midterm elections, following two years in office marked by radical spending cuts and sweeping free-market reforms.

His party, La Libertad Avanza, secured nearly 41 percent of the national vote, winning 13 of the 24 Senate seats and 64 of the 127 lower-house seats that were contested. The result strengthens Milei’s ability to advance his economic agenda aimed at cutting state spending and deregulating the economy.

Former US president Donald Trump congratulated Milei on social media, saying “He’s making us all look good.” Before the election, Trump had linked a proposed 40 billion dollar US financial lifeline for Argentina to Milei maintaining political momentum.

While Milei’s supporters welcomed Trump’s remarks, critics accused him of foreign interference in Argentina’s elections. Addressing supporters after the victory, Milei said, “We must consolidate the path of reform we have embarked upon to turn Argentina’s history around once and for all, to make Argentina great again.”

Before this election, La Libertad Avanza held only seven Senate seats and 37 in the lower house, making it difficult for Milei to pass his reform agenda. His vetoes of bills increasing funding for universities, people with disabilities, and children’s healthcare had all been overturned by opposition lawmakers.

The latest results mark a major shift in Argentina’s political landscape. Hundreds of Milei’s supporters gathered outside a Buenos Aires hotel where he followed the results, waving flags and cheering his victory.

“Milei didn’t have 15 percent of Congress in his favour. Now, with many more deputies and senators, he’ll be able to change the country in a year,” said Dionisio, a young voter celebrating outside. Another supporter, Ezequiel, said, “Our province was devastated by previous governments. Now, thank God, freedom has won. We want our daughter to grow up in this beautiful country. What happened in previous years is regrettable.”

The elections were the first major test of Milei’s popularity since taking office in 2023, when he promised to drastically reduce government spending, symbolically brandishing a chainsaw at campaign rallies. Since then, his administration has cut budgets for education, pensions, healthcare, infrastructure, and subsidies, while laying off tens of thousands of public sector workers.

Supporters, including Trump, have praised Milei for reducing triple-digit inflation, cutting the fiscal deficit, and restoring investor confidence. However, critics say these measures have caused widespread hardship, including job losses, declining manufacturing, deteriorating public services, reduced purchasing power, and the risk of recession.

Juliana, who works with children with disabilities in Tucumán province, expressed concern that legislation increasing funding for people with disabilities—previously vetoed by Milei and later reinstated—could be in danger again with his strengthened position in Congress. “Our salaries are low, and while everything else is increasing, we still don’t see a real change,” she said.

Veronica, a retired police officer, said she has been affected by the pension cuts. “You see a lot of poverty. It’s very hard: for retirees, for people with children with disabilities, for young people. There’s a lot of unemployment. Many factories have closed,” she said.

Milei has managed to keep inflation down partly by propping up the peso, leaving it overvalued and depleting foreign currency reserves ahead of 20 billion dollars in debt repayments due next year. This has raised concerns that Argentina could be heading toward another economic crisis.

Following poor election results in Buenos Aires province in September, investors grew anxious that Milei’s austerity program might not be politically sustainable. The United States has since offered Argentina a potential 40 billion dollar lifeline, including a currency swap, peso purchases, and private investment arrangements.

“If he wins, we’re staying with him. If he doesn’t win, we’re gone,” Trump had said before the vote.

Milei’s political future had recently been in doubt, as public frustration with austerity deepened and corruption scandals hit his party. Voter turnout in Sunday’s election was 67.9 percent, the lowest in a national contest in decades, reflecting widespread disillusionment with Argentina’s political class.