During the review period, Argentina experienced a profound political shift under President Javier Milei, marked by radical economic adjustment, rising polarization and constrained governance capacity. Milei won the November 2023 run-off with 55.6% of the vote, backed by center-right voters, but now governs with a parliamentary minority and no provincial governors from his coalition. He pursues a populist, confrontational style and uses hostile rhetoric toward journalists, LGBTIQ+ groups and gender policies, which has increased polarization and raised concerns about pluralism.
Milei took office amid triple-digit inflation, high poverty and a large fiscal deficit. After sharp adjustment measures, inflation slowed and a budget surplus emerged, but poverty rose temporarily, real wages declined and the economic recession continued.
Because of limited legislative support, the government relied heavily on executive decrees and passed fewer laws than previous administrations. Security policies reduced homicides but were linked to more repressive responses to protests, pointing to constrained governance capacity.
