Sept. 8 (UPI) -- Argentine President Javier Milei's party suffered a provincial election loss, representing 40% of the South American nation's electorate, amid corruption allegations and opposition to his policies.

The populist and self-declared "anarcho-capitalist" is vowing to make changes after the "clear defeat," but not with his economic policy.

Milei, who was not on the ballot, assumed office on Dec. 10, 2023, in his four-term term. He can run for office again in 2027 and again in 2035.

On Sunday, his La Libertad Avanza Party received 34% of Argentina's biggest province, Buenos Aires, compared with the left-leaning Peronist opposition with 47%.

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