Milei’s party, La Libertad Avanza (LLA), came in first with nearly 41% of the national vote. While this result does not give him an absolute majority in Congress, it significantly increases the number of deputies and senators his party represents and lends him the legitimacy to pursue a program of radical reforms.

Hailing a victory that transforms a bold gamble into a popular roadmap, Javier Milei described this moment as a "tipping point," stating that "today begins the building of a great Argentina."

Sunday's results are a real breath of fresh air for the presidential camp, which had expected to garner between 30 and 35% of the vote nationwide. In recent months, several scandals and a heavy defeat in a local election in the province of Buenos Aires had politically weakened the Argentine president. During the campaign leading up to these legislative elections, Javier Milei demonstrated a degree of humility, acknowledging that not everything had been perfect since the beginning of his term , both politically and economically. He asked Argentinians to trust him and give him the opportunity to see his program through to the end. This approach appears to have worked.

The results of the partial legislative elections also confirm Argentinians' rejection of a segment of the Peronist camp, united under the Fuerza Patria banner, which emerged as the big loser with 31.6% of the vote. By presenting already familiar political figures, the opposition seemed to be banking on the government's waning popularity rather than building a credible alternative project. This failure to embody renewal directly contributed to the demobilization of a portion of the electorate. The turnout, at approximately 68%, is the lowest recorded since the return of democracy in 1983. More than a simple sign of fatigue, this record abstention can be interpreted as an active rejection of a traditional political class deemed incapable of responding to crises. In this vacuum, Milei's anti-establishment rhetoric continued to resonate, particularly with a generation of voters—half of whom were under 39—who grew up seeing their elders complain about Argentine politics.

Another factor that appears to have played a crucial role for Javier Milei was the support of Donald Trump's administration. In early October, Washington provided significant financial support (a $20 billion currency swap line and $1 billion in direct purchases of pesos by the US Treasury) to the Argentine president's program. This allowed Argentina to avoid an uncontrolled devaluation of the peso before the election. This economic support sent a strong signal to Argentinians: with Javier Milei, the country had Washington's backing.

The new parliamentary configuration is a game changer: according to projections made by Javier Milei himself, his LLA bloc would increase from 37 to 101 deputies (out of 257) and from 6 to 20 senators (out of 72). In practical terms, this gives him significant defensive power: the threshold required for the opposition to override a presidential veto is now much higher. However, the LLA remains far from an absolute majority. To pass his structural reforms, the president will have to forge alliances. His strategy, already announced, is to bypass the hardline Peronist opposition and negotiate with "rational actors": the provincial governors and the moderate blocs, whose cooperation will be essential.

Elected in December 2023, Javier Milei inherited a critical macroeconomic situation with annual inflation exceeding 211%, a persistent fiscal deficit, and a poverty rate surpassing 30%. Milei promised an economic shock, notably by drastically cutting public spending: halting monetary financing of the deficit, unprecedented cuts in subsidies and public works, and reductions in transfers to the provinces. This is what he has tried to implement for the past two years, with varying degrees of success and without a parliamentary majority.

The effects of this policy have been a double-edged sword. On the one hand, the macroeconomic successes are undeniable: monthly inflation, which reached 25.5% in December 2023, has fallen back to around 2 to 3%; for many Argentinians, this control of inflation is a crucial success and gives Javier Milei real credibility. Moreover, in 2024, the country recorded its first budget surplus in over a decade. After two years of recession (-1.9% in 2023 and -1.3% in 2024), forecasts predicted growth of +5.5% in 2025.  

On the other hand, the social cost has been immense, causing a sharp drop in real incomes and a significant increase in the poverty rate. However, Sunday's vote suggests that a significant portion of the electorate is prepared to endure this adjustment. For nearly 41% of voters, anger against the political "establishment," deemed responsible for decades of decline, outweighs short-term economic hardship, which is seen as a necessary evil to clean up the country.

The Argentine president is now in a better position to implement his economic program. On Sunday evening, he announced his intention to push his reforms further . He appeared to be reaching out to certain segments of the opposition he considers "reasonable," with whom he hopes to secure an absolute majority. By 2027, the president aims to enact several reforms concerning taxation, labor market flexibility, and the Argentine healthcare system. To maintain his current legitimacy, he will also need to ensure that economic gains (inflation, budget) are sustained and that poverty indicators and the unemployment rate improve.