In the weeks leading up to Argentina’s midterm legislative elections on October 26, 2025, the polls appeared pessimistic for Milei’s Party, La Libertad Avanza (LLA). Headlines predicted his downfall. Progressives attacked Milei, claiming that his radical economic program is losing momentum and Argentines are tired of austerity.
However, the electoral ballots showed that the socialists' campaign against Milei did not blind Argentines. LLA had a clear victory against Peronist opponents and expanded its presence in Congress in this midterm legislative election. With Milei’s renewed political strength, there appear to be no legislative obstacles to advancing economic reform in Argentina.
After decades of failed populism, endless subsidies, and currency collapse, voters decided to double down on fiscal discipline and free markets. What the socialists mistook for fatigue was, in truth, determination.
In this article, I’ll explain why Milei’s party's latest electoral victory is the strongest evidence of a deep, growing wave of support for free-market reforms in Latin America, making the region the primary destination for expats seeking freedom and financial security.
Milei’s La Libertad Avanza gains key seats, breaking Peronist control and giving him real power to advance Argentina’s reform agenda
Midterm elections did not just serve as a referendum on the Milei government’s performance, but also reshaped Argentina’s political map. His coalition, La Libertad Avanza (LLA), gained a decisive increase in congressional seats and broke the legislative deadlock that had repeatedly stalled his reform agenda.
LLA secured about 40.8% of the national vote for the lower house. The party won 64 out of the 127 seats up for renewal in the Chamber of Deputies. This performance gave the government a working minority capable of sustaining presidential vetoes, and the balance of power shifted in the lower house of Parliament.
LLA also increased its representation in the Senate from 6 to 20 out of the total 72 seats. The election renewed 24 Senate seats, and Milei’s party won 13 of them. Although LLA does not yet have a majority, Milei is now powerful enough to form a coalition in the upper house to support his market reforms. The opposition, long dominated by Peronists, no longer has the numbers to veto presidential decrees or block key economic legislation.
This power shift symbolically transforms Milei from an outsider into a confident reformer in the eyes of the people, and his pragmatic alliance gives Argentina the most reform-minded Congress in decades.
What is even more interesting is the turning tide in favour of Milei in Peronist Buenos Aires Province. Just a month earlier, provincial elections had seemed to signal fatigue with Milei’s policies. However, October’s national vote showed a dramatic shift. LLA won 41.5% of the total votes, while Peronists followed in second place with 40.8%. Although Peronists are still strong in Buenos Aires, LLA’s performance here was even better than in the nationwide midterm elections. This shift in voters toward LLA candidates demonstrates that even many Buenos Aires residents fear a socialist takeover and have placed their confidence in him.
This election, therefore, is a turning point. Milei’s coalition will now have tangible legislative influence rather than being perpetually blocked by the elite-statist opposition.
Milei’s government turns deficit into surplus and curbs inflation, signalling Argentina’s strongest economic recovery in over a decade
In almost two years, Milei has achieved enormous success in putting Argentina back on track. When he took office, Argentina’s fiscal deficit was around 5% of GDP. Within a year, the country recorded a surplus of about 1.8% of GDP in 2024. This surplus was the first in over a decade. The government also introduced a legal framework to ban deficit budgets and prohibit the printing of money for spending.
Economic growth followed this adjustment. After the economy contracted by 1.9% in 2023 and 1.3% in 2024, Argentina’s GDP is projected to grow by 5.2% in 2025. Although we will have to wait until the end of 2025 to see the inflation rate, the economic recovery is quite impressive, showing momentum driven by Milei’s market-oriented policies.
Inflation, which had soared above 200% in 2023, has been declining sharply. By September 2025, annual inflation had fallen to 31.8%, while monthly inflation was just 2.1%. This strong disinflation trend shows that monetary stability is taking hold.
Milei has also pursued large-scale deregulation and privatization. He cut the number of ministries from 18 to 8, eliminated tens of thousands of public-sector jobs, and introduced a “mega-decree” with 366 articles dismantling regulatory barriers. With many state-controlled sectors now opening up and red tape being reduced, Argentina is sending a strong signal to investors that it is serious about reform.
Tax simplification is another major goal. While full details are not yet public, the government has committed to reducing complex and distortionary taxes to encourage entrepreneurship and investment. The progress already visible in fiscal and inflation data gives credibility to Milei’s reform agenda.
Milei now has the opportunity to advance deeper structural changes that no one has previously taken seriously. Argentina needs labour-market reform to reduce union monopolies, trade liberalization to better integrate into the global economy, and a currency reform to dollarize the economy. Incredibly, these are no longer distant ideas.
A quiet revolution is reshaping Latin America: pragmatic leaders, stronger markets, and renewed faith in economic freedom
Argentina is not alone. Across Latin America, a visible and measurable market revolution has already begun. President Rodrigo Paz Pereira recently won Bolivia’s presidential election and is reshaping the political scene, promising to establish fiscal discipline and free markets. President Santiago Peña of Paraguay has already transformed his economy into a regional model for stability and business-friendly governance. Under the young and pragmatic leadership of President Daniel Noboa, Ecuador is pursuing pro-market tax reforms and a decisive break from the socialist policies of the past. In El Salvador, President Nayib Bukele has reinvented the country as one of the safest destinations in Latin America, while opening it to foreign investment through digital innovation backed by cryptocurrency.
Together, these countries show a clear shift across the region—from dependence on the state and paternalistic policies toward a more practical, results-oriented style of governance that rewards hard work, innovation, and individual initiative.
While Argentina and its neighbours move toward open markets, much of the so-called developed world drifts in the opposite direction. Western economies face unbearable debt, demographic stagnation, and political paralysis. Regulation has grown heavier than productivity itself. The very countries that once lectured the world on fiscal prudence now rely on endless money printing and welfare expansion to sustain themselves. With deep cracks showing in the Western Bloc, the liberal democracies of the West no longer know how to climb out of the pit they’ve been falling into for so long.
In contrast, born from crisis, Latin America is learning fiscal discipline and the power of economic freedom. Its governments, once addicted to populism, are being forced by necessity to embrace responsibility. This is not just an ideological change reflected in the ballot box but a realistic approach adopted by people who have seen nothing else work in their country.
Milei's huge success demonstrates not just an amazing economic recovery but also the gaining of people's confidence, with effects far beyond Buenos Aires. For expats, digital nomads, and investors seeking freedom, Latin America is fast becoming the world’s most promising frontier.
Most countries in Latin America are already the best options for Plan-B strategies for expats who want freedom without the progressive agendas or heavy taxation of the West. Across the region, countries are embracing territorial tax systems and low-tax jurisdictions that make legal, efficient tax planning possible for both individuals and entrepreneurs. Economic reforms are streamlining bureaucracy, securing property rights, and creating transparent rules that favour productive people rather than political elites.
International investors have great opportunities in real estate, agriculture, fintech, and energy, all of which offer strong returns and tangible assets in fast-growing markets. Many countries link these investments to residency and citizenship programs, providing investors with a realistic path to a second passport and long-term security.
Argentina also launched its own citizenship-by-residency program, enabling investors to obtain citizenship with a $500,000 USD investment and no requirement to live in the country. If Argentina joins the U.S. Visa Waiver Program, its passport could become one of the best options for global investors. Although the new citizenship program is promising, high taxes, inflation, and heavy bureaucracy make it less appealing to expats than many other great alternatives in Latin America.
Argentina’s midterm elections mark a shift toward reform and economic freedom. With Milei’s leadership, the nation is regaining confidence and charting a new course
Argentina’s midterm election was more than a domestic political event; it was a declaration that the tide had turned. The country once trapped by populism and hyperinflation is reclaiming its place among productive nations. With a stronger political base and a clear reform agenda, Javier Milei now stands poised to complete what he has started: ending inflation, restoring confidence, and building a free-market economy.
Global tensions are escalating, and the Western Bloc is crumbling under the weight of statism. Meanwhile, Latin America is taking a different path to build economic freedom, expand international trade, and empower individual choice. Expats and international investors seeking to secure their wealth, start a business, or simply live freely should be aware that the future speaks Spanish and Portuguese. Argentina is leading a continent-wide awakening, and this time, believers are the majority, not the skeptics.
It is still too soon to reach a conclusion about Argentina as an ideal expat destination. However, people’s confidence in Milei and his determination to rebuild his country as a limited government are raising hopes for lasting change. If you haven’t yet explored your options for building your Plan-B, there is no better time to start than by downloading our special report on Plan-B Residencies & Instant Citizenships.