Parliamentary elections in Argentina: Milei's party clearly ahead of the opposition in midterm elections

Argentina's ultra-liberal President Javier Milei achieved success in the midterm elections . His party received just over 40 percent of the vote, according to the electoral office after almost all votes were counted. The left-wing Peronist opposition received just under 32 percent. This would give Milei's party 64 seats and the Peronists 31.

With the current election results, Milei and his allies in Congress could secure at least a third of the seats, thus achieving the necessary quorum to defend his presidential veto against parliamentary resolutions. Until now, he had only a few representatives of his own in the Chamber of Deputies and the Senate. He therefore largely governed by decree , but some of his reform projects were halted in Congress. His goal in the parliamentary elections was to stabilize the government.

The vote, which saw half of the Chamber of Deputies and one-third of the Senate reappointed, was also seen as a midterm mood test for Milei's presidency. While he managed to balance the budget and reduce inflation with a tough austerity policy, inflation in the country remains above 30 percent. Several corruption scandals in Milei's circle have also caused his approval ratings to plummet .

Despite initial successes following the president's reforms, the Argentine economy has yet to recover. Many people in Argentina have lost their jobs, and investors are hesitant to invest in the country given the uncertain situation.

Contrary to his economic convictions, Milei had to ask the International Monetary Fund and the United States for billions in loans to support the national currency, the peso. US President Donald Trump made future aid dependent on a victory in the midterm elections . "If he loses, we will no longer be generous," Trump said.