Milei’s Bloc Wins Argentina’s Midterms, Flips Buenos Aires, But Still Needs Allies

Argentina voted on October 26, 2025. President Javier Milei’s La Libertad Avanza (LLA) finished first with about 40.8% of the national vote, ahead of the Peronist coalition near 31.7%.

The headline shock was Buenos Aires province—the country’s biggest prize—where LLA narrowly flipped a district it lost just two months ago.

Strong tallies in Córdoba, Mendoza, Santa Fe and Entre Ríos rounded out a night that changed the political map.

The story behind the story is simpler than it looks. Turnout was historically low for a national vote, signaling fatigue after a hard adjustment year.

The election also debuted a single paper ballot nationwide, which sped up counting and reduced the chaos of party-branded ballots.

And a campaign that turned on “stop Kirchnerism” logic drew in anti-Peronist voters who had sat out provincial races.

What this actually gives Milei is leverage, not carte blanche. LLA increased its bench in both chambers and won roughly half (64) of the 127 lower-house seats contested this cycle—enough to bolster veto power but still short of a majority.

Milei’s Bloc Wins Argentina’s Midterms, Flips Buenos Aires, But Still Needs Allies

To pass big reforms on taxes, labor and the state, the government needs deals with provincial parties and with the center-right PRO. Governors now matter more than ever.

Why people outside Argentina should care is concrete. Argentina is Brazil’s top regional trading partner and a core buyer of Brazilian autos and parts; policy made in Buenos Aires moves prices, supply chains and Mercosur dynamics.

The vote also lands as Washington-backed financing and market-stabilization efforts are tested. If coalition politics unlock legislation that tames inflation and steadies the peso, Argentina’s risk profile—and the region’s—improves.

If gridlock returns, the next two years become a tug-of-war between fiscal math and political patience.

In plain terms: voters handed Milei more room, not a blank check. The big picture is a country willing to try a different path, but only if the government can convert a map of wins into workable, negotiated law.

That is where Argentina’s future—and its neighbors’ exposure—will be decided.

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