Argentine President Javier Milei, a bold and principled economist with a no-nonsense approach to leadership, has made remarkable strides in taming Argentina’s runaway inflation through decisive austerity measures and a commitment to free-market reforms. With legislative elections approaching in October, Milei is poised to strengthen his mandate as the fragmented and outdated opposition struggles to offer a coherent alternative.

Since taking office in late 2023, Milei has wasted no time delivering on his campaign promises. Through sweeping reforms — many enacted by presidential decree — he has aggressively downsized the bloated state apparatus and set Argentina on a course toward economic revitalization. His unapologetically libertarian vision and fearless style have drawn comparisons to U.S. President Donald Trump, who has voiced strong support for Milei and his agenda.

Thanks to Milei’s steady hand, the peso-dollar exchange rate has stabilized, a key achievement after years of monetary mismanagement. While he does not yet hold a majority in Congress, his coalition enjoys growing influence, and public approval continues to climb.

The October 26 elections will be critical, as voters will decide on renewing about half the lower house and a third of the Senate. A strong showing for Milei’s coalition, La Libertad Avanza, would empower him to accelerate urgently needed reforms — including advancing privatizations, streamlining taxes, reducing dependency on social welfare, and bringing flexibility to rigid labor laws. It would also bolster his commitment to traditional values and a socially conservative agenda.

Milei’s break from the failed legacy of Peronism marks a clear departure from decades of economic stagnation and clientelism. Where previous leaders entrenched state control and fostered dependency, Milei has focused on restoring economic freedom and personal responsibility. Although some sectors are still adjusting to the necessary changes — with protests emerging among state-dependent groups — the long-term trajectory is clearly positive.

Inflation, which had spiraled out of control under past governments, is now projected to drop to around 30% this year — a dramatic improvement from 118% last year. Still, around 40% of Argentines remain in poverty, a painful legacy of years of misrule. Some citizens, like a cardboard collector named Jorge, voice dissatisfaction with the pace of change, but many more understand that deep structural reform takes time.

Another challenge on the horizon is the need to deepen spending cuts in line with the $20 billion agreement with the International Monetary Fund — a deal that has significantly improved Argentina’s global financial reputation and sent a clear message to international investors: Argentina is open for business again.

The battle for Buenos Aires province, home to nearly 40% of the national electorate, will be pivotal. Milei has made it a strategic priority to defeat Peronist strongman and current governor Axel Kicillof, a symbol of the failed policies of the past. Encouragingly, Milei’s candidate recently scored a surprise local victory, and current polls show La Libertad Avanza leading over the Peronist bloc.

National momentum is firmly on Milei’s side. A recent poll showed 42% support for the President, compared to just 23% for the Peronists. Many Argentines credit Milei with restoring confidence and stability after years of chaos. “He’s made things feel a bit more stable,” said Federico Segovia, a 22-year-old student who squarely blames the former regime for Argentina’s economic collapse.

Divisions within the Peronist ranks are further weakening their chances. Tensions between Kicillof and Cristina Fernández de Kirchner — once close allies — have spilled into the open, raising doubts about whether they can unify ahead of the elections. A fractured opposition only strengthens Milei’s hand.

In a smart political move, Milei has joined forces with the center-right PRO party, forming a broader coalition committed to freedom, prosperity, and national renewal.

While the Peronists still maintain influence in Congress and some provincial strongholds, their grip on power is loosening. Political analysts increasingly agree: the tide has turned. The President is in a strong position to lead Argentina into a new era — one grounded in liberty, discipline, and dignity.