President Javier Milei, is aiming to win a majority for his La Libertad Avanza (Freedom Advances) party.
Half of the Chamber of Deputies and a third of the Senate will be replaced. The election is seen as a test of the public’s mood, at the halfway point of Milei’s presidency.
With his tough austerity course, Milei has succeeded in balancing the budget and reducing inflation. However, corruption scandals surrounding him have caused his approval ratings to fall.
Milei currently has no majority of his own in the Chamber of Deputies or the Senate. So far, he has largely governed by decree and his reform projects have often been stopped in Congress.
In elections in the important province of Buenos Aires in September, his party suffered a heavy defeat.
The economy is not really picking up. Many people have lost their jobs, and investors are reluctant to put money into Argentina on a large scale, due to the uncertain situation. The inflation rate is still over 30%.
Contrary to his economic policy convictions, Milei had to ask the International Monetary Fund and the US for billions in loans, to support the national currency, the peso.
US President Donald Trump, recently made his aid for Argentina dependent on Milei’s victory in the mid-term elections.
“And if he doesn’t win, we’re not going to waste our time, because you have somebody whose philosophy has no chance of making Argentina great again,” the US president said, dring Milei’s visit to the White House earlier this month.
GNA