Aleksandar Vučić’s second presidential term runs until May 2027, when constitutional term limits bar him from seeking a third consecutive mandate. Serbian law requires a presidential election by May 1, 2027, though Vučić has signaled possible early parliamentary elections in late 2026 that could coincide with or precede the presidential vote. Ongoing student-led protests since 2024 have sustained pressure on the ruling Serbian Progressive Party, yet Vučić continues to exercise executive authority through policy announcements, military modernization initiatives, and diplomatic engagements. No resignation or removal mechanism has advanced in recent months, leaving trader assessments anchored to the absence of credible near-term triggers for an earlier departure.