"The latest political crisis was set off when Prime Minister Rosen Zhelyazkov announced the resignation of his cabinet on December 11, minutes before parliament had been due to vote on a no-confidence motion. Zhelyazkov resigned after weeks of street protests against endemic state corruption and a planned 2026 budget that would have increased social security contributions and some taxes in a bid to plug state financing shortfalls."
"His exit triggered a constitutional process which saw both the centre-right GERB-SDS and the second-largest parliamentary grouping, the reformist PP-DB, reject Radev's invitation to set up a ruling coalition this week. Bulgaria, the poorest member of the European Union, sorely needs political stability to speed up the intake of EU funds into its creaking infrastructure, encourage foreign investment, and root out systemic corruption."
Bulgaria will hold early elections after leading parties refused mandates to form a new government following the resignation of the previous cabinet amid widespread protests. Three failed attempts to form an administration are required under the constitution before a snap vote, and Radev will appoint a caretaker cabinet and set the election date. The cabinet resigned after Prime Minister Rosen Zhelyazkov stepped down on December 11 amid street protests over endemic corruption and a proposed 2026 budget raising social security contributions and some taxes. Bulgaria has held seven national elections in four years and urgently needs political stability to expedite EU funding, attract investment, and tackle systemic corruption.
Read at www.aljazeera.com
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