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Bulgaria's President Radev resigns amid speculation he will form his own party

19 January 2026 21:40 (UTC +04:00)

Bulgaria’s President Rumen Radev will resign, he said in a speech on Monday, stoking widespread speculation that he will form his own political party to run in upcoming parliamentary elections after the previous government resigned last month, APA reports citing Reuters.

Radev, who was supposed to hold the largely ceremonial post until January 2027, said that he will submit his resignation to the Constitutional Court on Tuesday. If approved, he will be replaced by Vice-President Iliana Iotova until presidential elections in November.

Radev, who has expressed skepticism about Bulgaria's recent move to join the euro and Kremlin-friendly views about the war in Ukraine, was elected president in 2016 and again in 2021.

But his political ambitions have widened and he has long touted the possibility of forming his own party.

His move to step down, widely expected in the Balkan country, comes amid a political crisis that sees Bulgaria heading towards its eighth parliamentary election in four years. A fragmented parliament has meant that a series of election winners have failed to win majorities or create lasting coalitions.