Argentina’s Milei Experiences Declining Poll Numbers, Says Reuters

By Adam Jourdan

BUENOS AIRES (Reuters) – Argentina’s libertarian President Javier Milei, who maintained popularity despite implementing harsh spending cuts since taking office late last year, is facing a decline in support, according to recent polls. This drop presents a significant obstacle to his economic reforms.

A key survey from the Torcuato Di Tella University indicated a nearly 15% decrease in approval ratings for Milei’s government during September, marking the largest decline in his nine months in office. Another poll conducted by Poliarquía revealed a 7% drop over the same period, while a consultancy survey showed positive opinions of Milei’s administration falling to 44.8%, with negative views climbing to 50.7%. Additional data from CB Consultora also reflected declining support.

These findings highlight a substantial challenge for Milei, an outspoken economist and former commentator, who has thus far managed to implement strict austerity measures without provoking widespread public protests despite the nation’s recession and increasing poverty rates.

In September, Milei halted planned pension increases that had previously been approved by Congress and proposed a strict budget for 2025. Concurrently, many citizens have experienced rising costs for gas, water, and electricity as government subsidies were removed.

Milei’s extensive budget cuts have earned praise from investors and market watchers, who view them as essential in light of years marked by fiscal deficits, rampant inflation, and economic instability. However, these measures have negatively impacted economic activity, increased unemployment, and exacerbated poverty levels.

As a pro-market leader with limited political support in Congress, Milei relies on strong public approval to lend legitimacy to his reforms and to help secure allies in the legislature for bill approvals.

The libertarian president has acknowledged that his "zero deficit" strategy entails more immediate hardship for ordinary Argentines. He remains committed to improving conditions as he anticipates increased investment in the resource-rich nation and a reduction in inflation rates.

Alejandro Catterberg, director of the consultancy Poliarquía, noted that Milei’s previous high support levels were, in fact, an anomaly given the severe economic reforms underway. He stated on local radio, "What we’re starting to see in our polls and those of others is that the law of gravity does exist. Finally, what happens to all governments is beginning to happen to Milei, which is that in a process of economic adjustment, his poll numbers begin to fall."