Overview of the Election Results
The ultra-liberal party of Argentine President Javier Milei secured a decisive victory in the recent legislative elections, garnering over 40% of the votes with more than 90% of the ballots counted, according to Argentina’s Interior Ministry.
According to partial results, La Libertad Avanza triumphed over Fuerza Patria, the bloc representing the majority of the Peronist opposition, which received 24.5% of the votes.
Significance for Milei and His Government
Milei required a strong performance from his party, La Libertad Avanza, to prevent the deepening of Argentina’s financial crisis, marked by a strong devaluation pressure on the local currency. A victory for the Peronist opposition of center-left would have further exacerbated the situation.
With 90.8% of the votes scrutinized, La Libertad Avanza achieved 40.8% of the votes nationwide for the Chamber of Deputies, compared to 24.5% for the center-left Peronist alliance Fuerza Patria.
Surprisingly, the officialism also triumphed in the largest province of the country, Buenos Aires, governed by Peronist Axel Kicillof, with 41.5% of the votes against 40.8%. La Libertad Avanza also won in Buenos Aires city and in significant provinces like Córdoba and Santa Fe.
Despite Milei’s declining popularity due to economic turbulence and corruption scandals, the good showing of the officialist La Libertad Avanza will enable him—along with allies—to surpass one-third of the deputies in Congress.
The election was closely watched by the White House, which had suggested it might withhold support for Argentina—with which it recently signed a $20 billion currency swap agreement—if Milei were to lose.
Impact on Argentina’s Political Landscape
Political analyst Julio Burdman from the Observatorio Electoral consultancy stated, “What will remain after the election is a map of how the Government coalition will be reconstructed.”
Burdman added, “Milei will more actively incorporate the macristas (members of the center-right PRO party) and also engage in dialogue with many governors.”
Although Milei’s policies have managed to curb inflation, lowering it from 200% before his 2023 inauguration to 30% annually, the economic downturn has negatively affected many Argentines, who have experienced salary reductions due to strict public spending cuts.
Milei has pledged that, after overcoming the “risk” of a Fuerza Patria victory in the elections, market fears will dissipate.
Experts believed that securing less than 35% of the votes would have been a poor showing for the government, making it difficult to secure one-third of the representatives in the Chamber of Deputies, even with centrist allies. The Senate will remain under opposition control.
Public Reaction and Future Implications
María Reymundez, a 38-year-old anesthesiologist from Buenos Aires’ suburbs, commented on the election: “I believe this election is very relevant to continue supporting the Government’s course. I think the direction is correct, and sometimes sacrifices are necessary to reach a better place.”
By controlling one-third of the lower house, Milei can prevent the enactment of laws affecting fiscal balance, which he deems crucial to his program. Critics accuse the program of focusing on financial sectors while neglecting industrial production.
Financial markets closely monitored the legislative elections, as the outcome will impact the local currency’s value starting Monday. Additionally, anticipated changes in the Government’s Cabinet are expected.
“This is a country that has gone backward with Milei, and if they stay for much longer and continue doing what they’re doing, there’s no turning back: industries are destroyed, scientists are leaving the country,” said Rosa, a 78-year-old university teacher who voted for the Peronists and preferred not to disclose her last name.
The election determined half of the Chamber of Deputies’ seats (127) and one-third of the Senate’s seats (24), with the winners taking office on December 10th.
Currently, the Peronists are the largest opposition party in both chambers, while La Libertad Avanza holds only 37 deputies and six senators.
According to national authorities, voter turnout was low, with only 68% of eligible Argentines casting their ballots.
