Selin ATAY-TDO- Argentina shifted to the left on Sunday as Peronist candidate Alberto Fernandez won the South American country's presidential election amid broad discontent over austerity in the crisis-stricken economy.

With 93 percent of the ballots counted from nearly 34 million eligible voters, Fernandez received 47.9 percent of votes. The Peronist leader will serve as president until 2023.MrFernández is expected to assume the presidency on 10 December.

Mr Fernández, got more than the 45% of the vote needed to win, beating conservative incumbent Mauricio Macri. Fernandez secured 47.8% of the vote against conservative incumbent Mauricio Macri's 41.7%, according to preliminary results with more than 90% of the vote counted.

Alberto Fernandez, a lawyer and Professor of federal crime theory and criminal system at the University of Buenos Aires, he represents the current of Peronism in country politics.

Macri came to power in 2015 promising economic liberalization and growth. Instead, Argentina is in a deep recession, annual inflation stands at over 50% and a third of the population lives below the poverty line.

The economic crisis became more severe in 2018 when the peso lost about half its value, forcing Macri to strike a $55-billion (€49-billion) deal with the International Monetary Fund (IMF) and impose a painful austerity program.

Mr Macri promised to achieve "zero poverty", but things actually worsened during his four-year rule. His supporters say he inherited a broken economy when he came to power and needed more time to fix it.

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