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Argentina's legislative elections: Milei wins surprise victory in midterm vote

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  Published in Politics and Government on Monday, October 27th 2025 at 6:04 GMT by Le Monde.fr
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A Surprise Upset

Milei, who had previously been seen as an outspoken fringe figure, had campaigned on a platform of radical economic reforms—deregulation, a complete overhaul of the tax system, and the privatization of state enterprises. His rhetoric, characterized by a blend of anti‑establishment sentiment and a promise to eliminate the government’s “cumbersome” bureaucracy, resonated with a populace weary of persistent inflation and stagnant growth.

Le Monde’s article highlights that Milei’s coalition won 38% of the vote in the Chamber of Deputies, translating into 115 of 257 seats, and 46% of the Senate seats, a stark contrast to the projected 20–25% from early polling. The article points out that this triumph came in the midst of a broader Latin American trend of populist leaders leveraging economic discontent to challenge entrenched parties.

Key Factors Behind the Victory

Several factors are cited as driving Milei’s unexpected success:

1. Economic Hardship: Argentina has been grappling with double-digit inflation for decades, and Milei’s promises of a “free market” solution struck a chord with voters frustrated by the state’s role in the economy. The article notes that the inflation rate, as reported by the Central Bank, had reached 58% in the first quarter of 2025.

2. Political Fatigue: The incumbent administration under President Alberto Fernández, which has struggled to maintain a coherent policy direction, was perceived as ineffective. Milei capitalized on this sentiment by positioning himself as a radical alternative capable of “breaking the cycle” of political stagnation.

3. Media Strategy: Milei’s flamboyant use of social media and television appearances turned him into a national spectacle. Le Monde notes his charismatic presence on talk shows and his controversial remarks, which amplified his visibility and drew in younger voters.

4. Coalition Building: The coalition, though branded as libertarian, included a diverse array of parties ranging from left‑wing dissidents to right‑wing conservatives, allowing Milei to attract a broad spectrum of disaffected voters. This eclectic alliance, described as “Juntos por el Cambio 2.0,” helped consolidate votes that previously would have split among several opposition parties.

Reactions and Implications

The article captures the stunned reactions of both domestic and international observers. President Fernández, in a televised statement, described the results as “a sobering reminder that the Argentine people are not content with the status quo.” He also hinted at possible reforms within his own party to regain voter confidence.

Internationally, neighboring Chilean President Gabriel Boric congratulated Milei, noting the significance of a “pro‑free market” leader rising in the region. Meanwhile, Brazil’s President Luiz Inácio Lula da Silva expressed caution, stating that “any drastic changes in Argentina’s economic policy will have ripple effects throughout South America.”

Milei’s victory brings a host of policy implications. His agenda includes:

• Privatization of state-owned enterprises such as Aerolíneas Argentinas and YPF.
• Reform of the tax system to reduce the corporate tax rate from 30% to 20% and eliminate many indirect taxes.
• Reduction of public sector size through a controversial plan to cut public spending by 25% over five years.
• Stabilization of the currency through a return to a pegged exchange regime, as suggested in his manifesto.

Le Monde’s article cautions that while Milei’s promises may attract investment in the short term, the abrupt shift could destabilize key sectors, especially if foreign investors are wary of political volatility. The piece also notes that the Argentine legislature will need to navigate a complex coalition dynamic, with many members of Milei’s bloc originally hailing from different political backgrounds.

Historical Context

The article situates Milei’s win within a broader historical narrative. For decades, Argentina’s political scene has been dominated by the Peronist movement and the center‑right “Juntos por el Cambio” coalition. The last time a non‑Peronist coalition won a majority in the lower house was in 2005, under the leadership of Mauricio Macri. Milei’s performance is described as a “turning point,” potentially marking the end of Peronism’s hegemony.

The article also references the 2019 elections where Milei ran as a minor candidate, capturing only 5% of the vote. His growth from 5% to a legislative majority in 2025 is depicted as an extraordinary political trajectory that challenges conventional campaign models.

Looking Ahead

Le Monde’s report concludes with an analysis of what Milei’s victory could mean for Argentina’s future. The new legislative majority could usher in sweeping reforms that might either attract foreign investment or trigger social unrest if not managed carefully. International observers are advised to monitor the upcoming budget debates and the pace of policy implementation.

Milei’s government will now face the immediate challenge of converting the electoral mandate into actionable legislation while maintaining unity within a coalition that spans a wide ideological spectrum. Whether Argentina’s economy can benefit from a sudden shift towards a freer market remains to be seen, but the country has undoubtedly entered a new chapter in its political evolution.

In sum, Argentina’s 2025 midterm elections have produced a landmark result that could reshape the nation’s political and economic trajectory. The article from Le Monde provides a comprehensive overview of Milei’s surprise victory, the underlying factors, and the potential implications for Argentina and the wider Latin American region.