In a surprising turn of events, Argentina is heading towards a run-off vote between economy minister Sergio Massa and far-right libertarian Javier Milei after the ruling Peronist coalition’s candidate performed better than expected in the country’s presidential election. With 98 percent of the votes counted on Sunday night, Massa led Milei with 36.6 percent compared to 30 percent. The Argentine people will now choose between the two candidates in a runoff election next month, with the winner assuming office on December 10.
This outcome is unexpected considering the widespread voter anger over the government’s economic track record, including a staggering inflation rate of 140 percent and a poverty rate of 40 percent. Milei, an eccentric economist and self-proclaimed “anarcho-capitalist,” had initially led in the polls, capitalizing on public discontent with decades of economic decline and skyrocketing prices. As the leader of the Liberty Advances party, the 53-year-old has promised radical economic reforms, such as a 15 percent cut in public spending, the abolishment of the central bank, and the adoption of the US dollar as the Argentine currency. He has also taken conservative positions on social issues, opposing abortion and sex education, criticizing political correctness, and disputing human involvement in climate change.
Supporters of Milei believe that he is the only candidate who truly comprehends the country’s situation and knows how to save it. On the other hand, Massa has argued that Milei’s proposed spending cuts would adversely impact people’s finances and, in an effort to sway voters, announced income tax cuts for much of the population before the election. Supporters of Massa see peronism as the only option that offers the possibility of basic necessities being accessible to the poorest members of society.
To secure an outright victory in Sunday’s vote, a candidate would have needed to earn over 45 percent of the vote or obtain 40 percent with a 10-point lead. Election authorities reported a voter turnout of approximately 74 percent, higher than the August primaries but lower than the 81 percent participation rate in the previous general election.