Argentina's President, Javier Milei has endured a stinging electoral defeat in Buenos Aires province, a political and economic powerhouse home to 40% of the population.

His La Libertad Avanza party secured just 34% of the vote, trailing Peronist candidate Gabriel Katopodis’s 47.4%. The result — only two districts won out of eight — was swiftly acknowledged by Milei as a “clear defeat,” though he vowed to “deepen and accelerate” his austerity program.

Since taking office in December 2023, Milei has pursued sweeping deregulation, mass public-sector layoffs, and sharp spending cuts. While inflation has eased, unemployment has climbed to its highest since 2021, and protests have erupted over pension and disability funding. A corruption scandal involving his sister has further dented public trust.

With October’s midterms looming and Congress dominated by the opposition, the Buenos Aires loss is a warning shot. Peronist leaders described it as a rejection of Milei’s “chainsaw” politics, urging a shift from confrontation to tangible results. The vote suggests Argentina’s patience for economic shock therapy may be wearing thin.