Dejan Bursać, senior research associate at University of Belgrade, argues that economic growth has long been the main tool for mobilizing voters in Serbia. Since coming to power, the Serbian Progressive Party (SNS) has relied on economic populism — highlighting GDP growth, investment, and employment gains, while contrasting its record with the so-called failures of previous governments.
This approach, amplified by controlled media outlets, allowed SNS to achieve high ratings even when other areas, like anti-corruption efforts or European integration, lagged behind.
However, as Serbia faces persistent inflation, slowing investment, rising energy prices, and farmer protests, economic messaging alone is losing effectiveness. Efforts like introducing retail price margins have failed to deliver tangible results for citizens, while international disputes with major companies have emerged, showing the limits of populist economic narratives.
With local elections scheduled for March 29 and potential parliamentary or presidential contests within the next year, the party faces pressure to offer voters something new — often turning to confrontation and the identification of “enemies” to mobilize support. Analysts note parallels with Hungary, where Viktor Orban shifted focus from economic performance to portraying external actors as threats.
Experts warn that such populist strategies may provide short-term political survival but carry long-term risks: undermining investor confidence, discouraging structural reforms, and exacerbating economic fragility. For SNS, the challenge is whether this approach will resonate at the ballot box, or whether systemic economic reforms will become unavoidable.
