Argentina’s ultra-liberal president, Javier Milei, has hailed his party’s sweeping victory in the midterm elections as a “turning point” and pledged to move forward on the “path of reform”. This election is “the confirmation of the mandate we received in 2023,” Millay said, addressing supporters in Buenos Aires.

With 97% of the vote counted, the La Libertad Avanza (“Liberty Advances”) party secured 40.7% to 31.6% for the Peronist opposition, contradicting several polls that predicted a tight contest. Milei’s faction is expected to nearly triple its parliamentary strength and, with the help of its allies, will not allow the opposition to override its vetoes of laws the president says would threaten fiscal balance.

According to President Milei, the La Libertad Avanza faction will increase its deputies from 37 to 101 (out of a total of 257) and its senators from six to 20 (out of a total of 72).

Javier Milei did, however, attempt to reach out to opposition figures, saying “there are dozens of deputies and senators with whom we can reach basic agreements” on reforms.

Argentina’s midterm elections were a test for Milei, as they would decide whether in the second half of his term he could continue his pro-free market reforms and tough austerity policies. The presidential party managed to increase its strength in Congress, boosting market confidence in the Millay administration and securing the support of U.S. President Donald Trump, who recently promised a large “bailout” package for Argentina’s economy but threatened to backtrack in the event of an electoral setback for his counterpart.