Milei won almost 56 percent of the votes, while his opponent, Economy Minister Sergio Massa, got 44 percent, reports the BBC.
According to local reports, the victory of the 53-year-old Milei, who graduated as an economist and “comes from outside” to politics, who promised economic shock therapy in his campaign, was celebrated by his supporters in Buenos Aires with fireworks and street music.
The winner has already been congratulated by Brazilian President Luiz Inácio Lula da Silva, among others, although Milei previously criticized Brazil and China, emphasizing that he “will not do business with communists” and promised to strengthen his country’s relations with the United States.
In his victory speech, Milei named inflation, poverty and unemployment as the most important challenges facing the country, stating: “There is no place for lukewarm half-solutions.”
Considered by others to be a radical libertarian, Milei, who calls himself an “anarcho-capitalist”, and who used to symbolize his planned austerity with a chainsaw at rallies, called for the privatization of state-owned companies, as well as changes to be implemented in the fields of health care and education. Among his plans, he also mentioned the abolition of the health and education ministries.
His supporters believe Milei is the only one who can replace the political “caste,” as the newly elected president calls mainstream politicians, and end years of crisis in South America’s second-largest economy.