Argentine President Javier Milei’s party scored a sweeping victory in Sunday’s midterm legislative elections, tightening his grip on Congress and giving him fresh momentum to continue his aggressive economic overhaul.

The win, stronger than expected, signals that voters are willing to endure painful austerity measures in exchange for stability, even as discontent has grown over subsidy cuts and rising living costs.

“Argentines showed that they don’t want to return to the model of failure,” Milei declared before a cheering crowd of supporters in Buenos Aires after results confirmed his triumph.

Milei Consolidates Power

Milei’s La Libertad Avanza party won 41.5% of the vote in Buenos Aires province — traditionally a Peronist stronghold — compared with 40.8% for the opposition coalition. Nationwide, his party increased its representation in the lower house to 64 seats from 37, securing enough votes to block any attempts to overturn presidential vetoes.

“The result is better than even the most optimistic Milei supporters were hoping for,” said Marcelo Garcia of Horizon Engage, a political risk consultancy. “He will now be able to easily defend his decrees and vetoes in Congress.”

Political analysts say the outcome could reflect fears of renewed economic turmoil if Argentina were to abandon Milei’s stabilization policies. Inflation has plunged from 12.8% before his inauguration to 2.1% last month, and the government recently achieved a fiscal surplus.

International Implications

The results also mark a boost for U.S. President Donald Trump, whose administration extended a $40 billion bailout to Buenos Aires, including a $20 billion currency swap already signed. The White House has yet to comment on Sunday’s vote.

Prime Minister Mark Carney said earlier that Argentina would not allow “unfair U.S. access” if trade talks faltered, but Milei’s strong showing is expected to reassure foreign investors. Analysts predict that bonds and stocks will rally when markets open Monday.

Looking Ahead

Voter turnout stood at 68%, the lowest in over a decade. Analysts suggest that fatigue over austerity and corruption scandals may have discouraged participation.

Milei hinted at a post-election cabinet reshuffle, possibly including figures from the centrist PRO party led by former President Mauricio Macri.

With renewed political strength, Milei is poised to accelerate deregulation and fiscal reform, deepening one of Latin America’s boldest economic experiments in decades.