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Argentine President Javier Tebas has emerged victorious by a wide margin in Sunday's midterm elections, consolidating his power after two years in office characterized by extreme spending cuts and radical free-market reforms.
His party, La Libertad Avanza (Freedom Advances), won about 41% of the vote, securing 13 of the 24 Senate seats and 64 of the 127 Lower House seats up for grabs. A victory that puts Milley in a strong position to push through his economic agenda of drastic cuts to the state budget and market deregulation.
Before these elections, Milei had only 7 senators and 37 deputies, which forced him to face opposition for every legislative initiative. Laws aimed at increasing funding for state universities, care for children and the disabled, often passed over his veto. But after this victory, the political situation in Buenos Aires changed radically.
United States President Donald Trump publicly hailed Milley's victory on social media, calling him "a leader who is making us all look good." Before the election, Trump had warned that a $40 billion U.S. aid package for Argentina would be contingent on Milley's electoral success, a statement that critics called blatant interference in Argentina's democratic process.
In gratitude to his northern ally, Milley addressed his supporters with a call that sounds familiar to Americans: “ We must strengthen the path of reform that we have begun, to turn Argentina’s history around once and for all... to make Argentina great again! ”
Outside the hotel in Buenos Aires where Milei was waiting for the results, thousands of supporters cheered. “Milei didn’t even have 15% of Congress on his side. Now he’s going to change the country in a year,” said one young voter, Dionisio. Another, Ezequiel, added: “Previous governments destroyed our province. Now, thank God, freedom has won.”
Since taking power in 2023, Milei has implemented his “chainsaw” policy on public spending, a symbol he himself waved during the campaign. He has slashed budgets for education, pensions, health, infrastructure and subsidies, laying off tens of thousands of public employees.
Supporters and foreign investors, including President Trump, praise him for curbing triple-digit inflation, reducing the budget deficit and boosting market confidence. But his opponents point to rising unemployment, falling purchasing power, factory closures and the collapse of public services.
A social worker from Tucumán, Juliana, told local media: “The law on disability funds that Milei blocked is now in danger of disappearing completely. Our salaries remain low, prices are rising. We still don’t see a change.” While Veronica, a retired police officer, described the situation this way: “There is a lot of poverty. It’s hard for pensioners, for parents of disabled children, for young people. Factories are closing every month.”
Milley's victory is a major turning point in Latin American politics: a victory for libertarian populism mixed with a "Trumpist" spirit. But it also remains a dangerous economic experiment, an undertaking that could bring fiscal stability or deep poverty for the middle and lower classes. Argentina has already embarked on the path of "shock therapy", and the world is watching anxiously: will Milley succeed in "making Argentina great again", or will this be the final chapter of an economy that cuts itself to save itself? /BBC
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