Bulgarian President Rumen Radev on Friday asked There Is Such a People (ITN) party, the largest political force with 65 seats in the newly-elected 240-member Parliament, to form a new government. The President has handed the exploratory mandate to Plamen Nikolov, the ITN's nominee for Prime Minister, according to reports. Nikolov now has seven days to propose a government, which would have to be approved by Parliament in a simple majority vote, according to the Bulgarian Constitution.

In the snap elections held on July 11, ITN party, which was founded in 2019 by Bulgarian singer and politician Slavi Trifonov, received 24.08 percent of the votes. Meanwhile, the coalition of the conservative-populist GERB party and the Union of Democratic Forces (UDF) won 63 seats to become the second-largest force in Parliament. It was followed by the Bulgarian Socialist Party (BSP) with 36 seats, the Democratic Bulgaria electoral alliance with 34 seats, and the Movement for Rights and Freedoms with 29 seats.

It was earlier predicted that Prolonged political uncertainty could hamper Bulgaria’s ability to effectively tap the European Union’s €750 billion coronavirus Recovery Fund and slow its preparations to adopt the euro currency in 2024.

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