Argentina’s Milei Gains Ground in Midterm Elections Amid Economic Struggles
Despite widespread economic hardship, President Javier Milei’s La Libertad Avanza (LLA) party secured a significant victory in Argentina’s midterm elections yesterday, renewing approximately half of the country’s congress.
The results come after a period marked by a sharp economic downturn and allegations of corruption, leading even President Milei to express surprise at the outcome. Francisco Jiménez, a 32-year-old delivery app rider in Buenos Aires, exemplifies the struggles facing many Argentinians; despite working seven days a week, he is preparing to move his family into his mother-in-law’s apartment due to rising costs. “The economy is complicated, my life is complicated because, well, I have three children – they’re growing up, so they eat twice as much … and things keep getting more expensive,” Jiménez said. Despite his personal difficulties, he voted for LLA, believing the previous administration “been in power too long and done too much harm.”
Milei’s administration implemented a drastic austerity plan upon taking office in December 2023, including cuts to federal spending, wage and pension freezes, and a significant devaluation of the peso. While inflation has decreased from over 211% in 2023 to 32% annually as of September 2025, according to the International Monetary Fund, average incomes have fallen, and poverty rates have climbed. Nicolás Pedrosa, a mobile phone shop owner, expressed regret for his 2023 vote, stating, “The middle class no longer exists; you’re either poor or rich.” The economic situation has led to business closures and job losses across multiple sectors, contributing to a rise in informal employment, currently at 43.2% of the workforce. You can learn more about the challenges of Argentina’s economy on the World Bank’s website.
The LLA’s victory, bolstered by a recent $40 billion bailout from the United States, does not guarantee a legislative majority, requiring further alliances to pass key reforms concerning labor, taxes, and pensions. President Milei stated he “can’t fix the economy overnight when it’s been a mess for years,” acknowledging the long road ahead.
