politics
March 23, 2026
Populism Without Fuel
When things go downhill, populists mobilize voters by fighting a common enemy. The regime looked for them in various places
TL;DR
- Populist regimes often build support on economic promises and comparisons to previous administrations.
- Economic growth and foreign investment, facilitated by favorable global trends and low-cost borrowing, allowed the SNS to stabilize the economy and increase its rating, while issues like corruption were downplayed.
- The current economic challenges, including inflation, investor withdrawals, and high energy prices, make it difficult for the ruling party to maintain its narrative of progress.
- The government's attempts to control prices have been ineffective and have led to international lawsuits.
- Facing upcoming elections and a potentially mobilized opposition, the regime is seeking new enemies, including large retail chains, to shift focus from its economic failures.
- This strategy of confronting investors, while potentially appealing to some voters in the short term, risks deterring future foreign investment and signals a lack of systemic economic reform.
- The approach of blaming the last link in the chain, like supermarkets, instead of addressing systemic economic problems, is seen as a superficial fix.
- The ruling party appears willing to use confrontational and short-sighted populist tactics to win elections, potentially causing long-term damage to the economy.
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