Bulgarian President Radev Resigns, Citing Oligarchy and Political Betrayal

By Staff, Agencies

Bulgarian President Rumen Radev has announced his resignation, accusing the country’s political class of betraying voters and running the state through what he described as oligarchic mechanisms, a move that has intensified speculation he may launch a new political party ahead of snap elections.

In a televised address, Radev criticized what he called a “vicious model of governance,” arguing that Bulgaria displays the outward form of democracy while power is exercised outside formal institutions.

He said public trust in politics, the media, and the judiciary has eroded to the point that many citizens have simply stopped voting.

Radev also questioned the benefits of Bulgaria’s recent entry into the Eurozone, saying it failed to deliver stability or a sense of fulfillment for ordinary people.

Bulgaria adopted the euro on January 1 without a national referendum, despite public opposition reflected in opinion polls.

His resignation, which must be approved by the Constitutional Court, comes amid prolonged political instability, with Bulgaria heading toward what could be its eighth parliamentary election in four years following repeated government collapses and corruption protests.

Vice President Iliana Yotova is expected to assume the presidency.

While Radev has not formally announced plans to create a new party, he said public demand for such a move is widespread.

Despite stepping down early, he remains the country’s most popular political figure, with approval ratings far exceeding those of other leaders.