Argentina election results: President Javier Milei emerges strengthened from midterms

President Javier Milei has emerged strengthened from Argentina’s legislative elections, with results showing his party may have secured close to 40 percent of the national vote.

With 91.5 of polling stations reporting nationwide, Milei’s La Libertad Avanza had 40.8 percent of the national vote cast for national deputies. For senators Surveys and analysts had generally forecast between 30 and 35 percent prior to the election.

The ruling party, which ran in alliance with ex-president Mauricio Macri’s PRO party, was the only force to run in all provinces, meaning it is the only one that can produce a full national tally.

Preliminary results showed strong performances for La Libertad Avanza in the provinces of Córdoba and Santa Fe. Milei’s party also looked odds-on to notch victories in Buenos Aires City, Tierra del Fuego, Río Negro, Neuquén, Chaco and Salta.

In the nation’s closely watched key battleground region, Buenos Aires Province, home to some 40 percent of the electorate, La Libertad Avanza was neck-and-neck with the opposition Fuerza Patria coalition.

That was a shock result, given that Milei’s top candidate in the region, José Luis Espert, resigned his candidacy during the campaign over his link to an alleged drug-trafficker.

In a regional vote last month, La Libertad Avanza trailed the Peronist coalition by more than 10 points.

National test

Reaction to the results came thick and fast. 

Presidential Spokesperson Manuel Adorni wrote on X that “God blessed the Republic of Argentina.”

National Security Minister Patricia Bullrich, running as a LLA candidate for Senate in Buenos Aires City, wrote simply “!!!” on social media.

The legislative elections were the first true national test of support for Milei since he won office two years ago on a promise to revive Argentina’s long-ailing economy.

Around half of the seats in the lower house Chamber of Deputies (127 seats), and one-third of the Senate (24 benches) are up for grabs, vital seats that could shift the balance of power in either chamber.

La Libertad Avanza was hoping to significantly increase its seat tally in both chambers but was not expected to secure a majority.

Turnout was lower than usual, 67.85 percent of the 36-million eligible voters – the lowest tally for a national election since the return of democracy in 1983.

A nationwide switch to the single paper ballot (BUP) system ensured the official count took quicker than usual – a fact Cabinet Chief Guillermo Francis described as “historic” and “efficient.”

Run on currency

The election run-up was marked by a run on the national currency, the peso, that forced Milei to seek a bailout from US President Donald Trump.

Washington has promised an unprecedented US$40-billion package of aid, but the assistance came with a warning from Trump to Argentines that he would not "be generous" if Milei failed to perform at the polls.

Argentines fear the government could depreciate or devalue the peso, widely seen as too strong, after the vote.

Questioned about the possibility on Sunday after he cast his ballot, Economy Minister Luis Caputo replied: "No."

"Monday is just another day, nothing changes to the economic programme or the band system," he said, referring to the  peso-dollar exchange rate band set by the government in April.

Great leader?

Investors began dumping the peso last month after Milei's party suffered a heavy defeat in regional elections in Buenos Aires Province, losing by 14 points.

Trump stepped in to shore up his closest Latin American ally, calling him a "great leader" and hosting him for talks at the White House.

Milei's LLA party and its allies could still however struggle to garner the third of seats they need in each chamber to block attempts to overturn his vetoes and advance the president's reform agenda in the face of an increasingly combative opposition.

The self-declared "anarcho-capitalist" leader has already seen many of his signature policies blocked by Congress, notably his efforts to privatise major state-owned companies and his veto of increased spending on public universities, emergency paediatric care and people with disabilities.

Members of Milei's inner circle had been implicated in a variety of scandals prior to the election, but that failed to make the anticipated impact.

– TIMES/AFP/PERFIL