Milei faces sharp drop in approval rating ahead of midterm elections

By Al Mayadeen English
Source: Bloomberg
Today 15:22

Argentine President Javier Milei's approval has plunged to a record low as austerity measures, inflation, and corruption scandals fuel public anger ahead of the midterm elections.

Listen

Anti-government protesters hold signs satirizing US President Donald Trump and Argentine President Javier Milei during a rally outside the US Embassy in Buenos Aires, Argentina, Wednesday, October 22, 2025. (AP Photo/Victor R. Caivano)

Argentine President Javier Milei's approval rating has plunged to its lowest level since he took office, as austerity measures, inflation, and corruption allegations weigh on public confidence ahead of the October 26 midterm elections.

A LatAm Pulse survey by AtlasIntel for Bloomberg News shows Milei's approval slipped for a third consecutive month to 39.9%, while disapproval rose to 55.7%, and only 4.4% of respondents were undecided. The poll also indicates a narrowing gap between Milei and Buenos Aires Governor Axel Kicillof, his main Peronist rival. Milei's favorability fell to 42%, down from 50% earlier this year, while Kicillof's rose to 40% from 26%.

Austerity Fallout

The president's popularity has been eroded by deep spending cuts and a currency devaluation that triggered a surge in prices. His "chainsaw" economic program slashed subsidies, froze public works, and reduced welfare transfers in a bid to balance the budget. While inflation has recently eased, analysts say the early shock left millions poorer, with poverty surpassing 50% in early 2024 and real wages falling across sectors.

Over two-thirds of Argentines say the economy is bad and unlikely to improve, the poll found, with only 17% describing conditions as good and 34% expecting improvement in the coming months. The Argentine peso has lost more than 7% of its value this month, the worst among emerging markets, despite US efforts to stabilize the currency following a key provincial defeat for Milei's party.

Corruption scandals have further undermined the government's standing. Milei's Buenos Aires candidate Jose Luis Espert dropped out of the race amid reports of links to a drug trafficker sought by the United States, while Milei's sister and chief of staff, Karina Milei, was accused of accepting bribes in August. Both have denied wrongdoing.

Diplomacy and Discord

Beyond the economy, Milei has drawn controversy for his foreign policy. He has pledged to move Argentina's embassy in "Israel" from Tel Aviv to occupied al-Quds and officially designated Hamas a terrorist organization, marking a sharp break from Argentina's traditional neutrality on the Palestinian question.

At the same time, he has attacked China rhetorically, calling its government "communist" and "murderous", while continuing to rely on Beijing's multi-billion-dollar currency swap to sustain Argentina's foreign reserves.

With midterm elections days away, Milei faces growing public frustration as austerity fatigue and foreign-policy gambits threaten to erode his once-disruptive appeal.