Economy

Javier Milei triumphs in the legislative elections: Argentina turns right again

It was expected as a referendum on his government, but it turned into a plebiscite. The mid-term legislative elections in Argentina they mark a clear victory for the party La Libertad Avanza (LLA) of the president Javier Mileiwhich consolidates its position in Parliament and obtains a strengthened mandate to continue the policy of radical cuts to the welfare state. Turnout stood at 67.85%, the lowest level since the return of democracy in 1983.

Despite the polls predicting a neck-to-head, LLA he conquered the 40.84% ​​of the votes nationwideovertaking the left-wing coalition Fuerza Patria (FP)stop at 24.50%. The success also extends to the province of Buenos Airestraditional stronghold of Peronism. The party of Milei gains 64 seatsstrengthening its influence while remaining a minority in Parliament. A result that allows the president to negotiate alliancesespecially with the party PRO of the former head of state Mauricio Macri. Congratulations immediately arrive from the United States Donald Trumpwho on the social network Truth writes: «Congratulations to the president Javier Milei for his landslide victory in Argentina. He’s doing an amazing job! Words of support also from the Israeli prime minister Benjamin Netanyahu.

In recent months, the Peronist majority parliament had hindered the ultra-liberal reforms of Milei, approving measures in favor of universities, healthcare and pensions, in open defiance of presidential vetoes. With the new composition, the Congress becomes more controllable for the head of state, who rejoices: «The government has passed the turning point. Now we will build a great Argentina.” From the headquarters of LLA in Buenos Aires, the president speaks of a “historic day” and promises that “the May Pact will become law”. He adds: «Two out of three Argentines don’t want to return to the past. We are 14 points ahead of Kirchnerism. No more populism.” And he announces that from 10 December “the most reformist Congress in history” will take office, with 110 deputies and 20 senators ready to support the government’s agenda.

The triumph of Milei arrives despite his declining popularity, partly compromised by scandals and economic policies defined as “tears and blood”. The most striking case is that of cryptocurrency “Libra”promoted by the president himself and collapsed on the stock market, causing losses for hundreds of investors. His sister also ended up in the scandal Karina Mileiaccused of receiving bribes for a medicine order. Another controversial episode is the investigation involving the candidate Luis Expertwithdrawn due to alleged financing by a drug trafficker on trial in the United States. Despite it all, Milei claims significant macroeconomic results: inflation has fallen since 290% to 30%and in June 2025 the monthly index reached l‘1.6%, five-year low. The government has achieved the balanced budget in 2024starting from a deficit greater than 5% of GDPthanks to a drastic reduction in public spending: minus 28% in real terms and cuts of up to 30% in state services. Nine ministries were downgraded to simple secretariats.

Analysts are now predicting a possible devaluation of the Argentine pesokept artificially strong to curb inflation. This move, although risky, could revive exports and rebalance the economy. But the social price remains high: the squeeze on healthcare, pensions and disabilities has generated mass protests and widespread strikes. The victory of Milei it also strengthens its political axis with the United States of America Donald Trumpwho supported Buenos Aires with a package from 40 billion dollars. A support which, on the one hand consolidates the international legitimacy of the Argentine government, on the other fuels accusations of dependence on Washington. Now the political future of Javier Milei it depends on his ability to maintain fiscal discipline without imploding social consensus in a country greatly affected by austerity policies. As he himself declared: «L‘Argentina it was a minefield. We managed to emerge, but we must consolidate the reformist path in the next two years.”