From the Wall Street Journal, a reminder of the “mechanical” significance of the strong showing by Milei’s LLA in Argentina’s midterm elections:
Milei’s party entered the vote with just 37 deputies and six senators, around 15% of Congress and 10% of the Senate, respectively. The midterm gains leave him still far from a majority but enough to give him effective veto power over hostile legislation. Analysts say holding one-third of either chamber is crucial for sustaining his presidential decrees and fending off attempts by the opposition to reverse his fiscal agenda.
Much of what Milei has achieved up until now has been through his exercise of emergency powers. His ability to do that was coming to an end. Now he is much better placed to defend the reforms he has put in place, therefore giving them more time to take root.
Decades of misgovernment are not reversed quickly.