Bulgaria’s parliament accepts government resignation

The parliament voted the government resignation yesterday, submitted after the loss of the presidential candidate of the ruling GERB party, local media reported. The resignation was accepted with the votes of 218 MPs and none voted against. President Rosen Plevneliev will start consultation on the formation of a new cabinet in the current parliament on Nov 17. He will first hand the mandate again to GERB, the largest parliamentary group, which has declared intention for immediate return of the mandate. The second biggest party, BSP, also said that it will not attempt to form a new government in the framework of the present parliament. The President could then choose a third party in a last option to form a government. The Patriotic Front announced that if it receives the third mandate it will try to form a governing coalition and may decide not to return the mandate immediately, according to political sources. The most likely candidate for PM will be VMRO leader Krasimir Karakachanov.

We believe that the ability of the current parliament to form a new cabinet is quite low and the most likely outcome will be early elections in the spring. The current parliament will continue to function until dissolved by the newly-elected president when he enters office at the end of January. Early elections should be called within two months of the parliament dissolution.

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