Reuters. Bulgarian President Rumen Radev said on Monday (January 19) he will resign, fuelling speculation that he will form his own political party to run in upcoming parliamentary elections after the previous government quit last month.
Radev, who was due to hold the largely ceremonial post until January 2027, said he will submit his resignation to the Constitutional Court on Tuesday (January 20). If approved, he will be replaced by Vice President Iliana Iotova until presidential elections in November.
Radev, who has expressed scepticism about Bulgaria's recent move to join the euro and has taken Kremlin-friendly positions on the war in Ukraine, was elected president in 2016 and again in 2021.
But his political ambitions have widened and he has long floated the possibility of forming his own party to bring stability and fight graft in one of the European Union's poorest and most corrupt countries.
Radev's move to step down, widely expected in the Balkan country, comes amid a years-long political crisis that sees Bulgaria heading towards its eighth parliamentary election in four years.
