President-elect Alberto Fernandez (R) speaking alongside his vice president-elect Cristina Fernandez de Kirchner. AFP

Opposition leader Alberto Fernandez on Sunday defeated Argentine President Mauricio Macri after the first round of voting in the country’s closely fought election.

The latest count put Fernandez ahead with 48% of votes compared to center-right Macri’s 40.4%, with more than 95% of votes counted, according to figures from the National Electoral Directorate.

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The directorate added that Fernandez needed 45% of votes or a 10% lead over his nearest rival to win.

Voters turned out in numbers to reject the austerity measures introduced by Macri as the country attempts to dig itself out of a deep economic crisis.

Fernandez said Sunday night that he will meet with Macri on Monday “and talk about the remaining time we have.”

He said: “And of course we will collaborate in everything we can because the only thing that we will focus on is to stop the suffering of all Argentinians.

“We are going to be the Argentina we deserve to be.”

Also speaking at his campaign headquarters, Macri said: “I congratulated Fernandez and invited him to talk so that we could have an organized transition. The important thing is the future of all Argentinians.”

Fernandez, who ran on a ticket with former President Cristina Fernandez de Kirchner, will replace center-right Mauricio Macri in December on 10.