Key Facts
• October 26, 2025: Argentina held midterm elections.
• Ruling party ‘Liberty Advances’ won 41% of votes.
• Secured 13 of 24 Senate seats and 64 of 127 House seats.
• President Javier Milei’s austerity policies gained momentum.
• U.S. pledged $40 billion aid contingent on Milei’s victory.
• Milei’s reforms include drastic spending cuts and market deregulation.
• Pre-election, ruling party held only 7 Senate and 37 House seats.
• Milei vetoed bills on public spending, later overturned by opposition.
• Inflation reduced from triple digits; fiscal deficit also cut.
• Critics cite job losses, manufacturing decline, and public service cuts.
• 67.9% voter turnout, lowest in decades for national elections.
• Financial markets expected to rise following Milei’s victory.
Summary
Argentina’s midterm elections on October 26, 2025, marked a significant victory for President Javier Milei’s ruling party, ‘Liberty Advances,’ which secured 41% of the vote. This win bolstered Milei’s controversial austerity agenda, including drastic spending cuts and market deregulation. The party’s increased representation in Congress-13 Senate and 64 House seats-will ease the implementation of these reforms. U.S. support, contingent on Milei’s success, includes a $40 billion aid package. While inflation and fiscal deficits have decreased, critics highlight job losses, manufacturing decline, and public service cuts. Voter turnout was 67.9%, the lowest in decades, reflecting widespread political disillusionment. Financial markets are expected to react positively to the election results.
