Fireworks and celebrations as student-led movement wins in Serbia; can they deliver?

In Serbia, can a leaderless student movement, with little experience of governing, turn its electoral victory into lasting political change?

Celebrations swept across Serbia after Gen Z-backed candidates defeated president Aleksandar Vucic’s ruling party in a historic election, ending his long grip on power. In Belgrade, crowds filled central squares, cars draped in Serbian flags honked their horns and fireworks lit up the sky as jubilant protesters dismantled barricades around a pro-government encampment near parliament.But beyond the celebrations, a key question remains: Can a leaderless student movement, with little experience of governing, turn its electoral victory into lasting political change?The election follows nearly two years of student-led demonstrations sparked by the collapse of a canopy at the Novi Sad railway station in 2024, which killed 16 people. Protesters blamed corruption and cronyism for the disaster, turning the tragedy into a wider campaign for accountability.

From street protests to political power

Visuals circulating on social media showed crowds taking to the streets of Belgrade and other Serbian cities soon after the election results were announced. The student movement built nationwide support without a single leader and eventually fielded 250 candidates, including academics, lawyers, doctors, farmers, actors and musicians.Its agenda centres on anti-corruption measures, judicial reform and stronger public institutions.

The candidates have proposed an independent police unit accountable to prosecutors, transparent appointments to state-owned companies and tighter scrutiny of public infrastructure contracts.

However, unity could prove difficult once the movement begins governing.“(The student movement created) such a shift in Serbia's culture; we will just have to see if it lasts,” Katarina Popovic, a professor at the University of Belgrade told news agency Reuters.“We just hope that there are big goals that can keep them together long enough to deconstruct the system,” she added.

Can the new government deliver reforms?

Under Serbia’s constitution, the student-backed candidates have 90 days to form a government after parliament is convened following the announcement of final election results.The immediate challenges include passing a year-end budget, addressing rising public and private debt, reforming the police and intelligence services, and strengthening the judiciary.The students' victory "is likely to trigger broad institutional and policy changes centred on anti-corruption, the rule of law, and better public services. However, bureaucratic resistance to reforms and the movement’s limited governing experience could make the transition challenging," Teneo Global Research said in a report on Monday.

The IMF projects Serbia’s economy to grow 3 per cent in 2026 and 4 per cent in 2027, while inflation rose to 4.1 per cent in September from 2.2 per cent in August.

The central bank has held its benchmark interest rate at 5.75 per cent since 2024.“The new government would have to fight its corner,” warned Bozo Prelevic, a Belgrade-based lawyer and former co-minister of the interior, referring to the Serbian Progressive Party (SNS), which is expected to remain a formidable opposition force.The movement has also promised economic changes, including action against retail monopolies to lower food prices, tax relief for lower-income groups, affordable housing initiatives and cheaper medicines.

Kosovo, Russia and the European Union

Foreign policy could be another test. The student-backed candidates oppose recognising Kosovo’s independence, declared in 2008, while relations with the European Union remain strained over stalled accession talks and the need to normalise ties with Pristina.The movement has also said it does not intend to impose sanctions on Russia, Serbia’s traditional ally and a major gas supplier. At the same time, the European Commission has offered support for reforms involving the rule of law and media freedom.“I am sure (the Student List) will find a way, just as they have so far, to choose someone capable of governing,” said Savo Manojlovic of the student-friendly Move-Change movement, according to Reuters.