Receiving more than 60 percent of the vote, Bolivian President Evo Morales on Sunday declared his landslide re-election victory against his closest rival, cement magnate Samuel Doria Medina, who got 25 percent of the vote.

Although the official partial results are expected to be released by Monday, pollsters Ipsos and Equipos Mori claimed Morales is 40 points ahead of Medina, the Agence France Presse reported. Meanwhile, a report published by the Associated Press said Medina has already conceded defeat.

Morales' supporters went to the streets to celebrate, and headed to the presidential palace in La Paz where the third-termer president delivered a victory speech.

The re-elected president said in his speech that he dedicates his triumph to Cuba's leader Fidel Castro and late Venezuelan president Hugo Chavez. AFP also reported that the 54-year old president who gained prominence as a union leader who fought for the rights of cocoa growers claimed he offers his victory to "all anti-imperialists and anti-capitalists."

The Associated Press said Morales who conquered eight out of the nine Bolivia states is set to be the country's "longest-serving leader consecutively in office."

After assuming his post in 2006, Morales has initiated a lot of changes and development in Bolivia. AFP reported that several sectors such as oil, gas, mining, telecommunications, among others have been nationalized during his administration. The elderly, children, and pregnant women have been prioritized, while marginalized groups like indigenous people were empowered, the report added.

Aside from these, Bolivia's economy continues to grow strong, making it to the list of countries with fastest rates in the region, the AFP report noted. For instance, last year, its economy grew by 6.8 percent.

Meanwhile, reports say Morales is also behind the continuous public works projects in the country. His government is also pushing for the creation of an Internet satellite in rural schools and of the La Paz nuclear power.

However, AP reported that it has been speculated by some of Morales' critics that he used the government's money amounting to millions in his campaign. The news report also said that several mediamen claimed that Morales is behind media silence.

The Associated Press, citing data from the World Bank, also revealed that despite developments in the country, Bolivia remains to be "South America's poorest country."

Pollsters claimed that Morales' Movement Toward Socialism is still on top, winning more than 110 out of the 130 seats in the Chamber of Deputies and over 20 of the 36 seats in the Senate, AFP reported.

Morales will stay in office until January 2020. Morales, also known as "El Evo," a native Aymara Indian, is the first indigenous president of Bolivia. Bolivia has over six million voters.