November 13 (SeeNews) - Bulgaria's prime minister Boyko Borissov said he will submit the resignation of the minority coalition cabinet led by his centre-right GERB party next week after exit polls showed that the Socialists-backed candidate, Rumen Radev, has won Sunday's presidential elections.
Radev won 58.1% of the votes against 35.3% for GERB's candidate Tsetska Tsacheva, according to exit polls conducted by polling agency Alpha Research and quoted by the Bulgarian National Television (BNT). A total of 6.6% of people who went to the polls ticked the "I do not support anyone" box.
"The election results make it clear there is no majority, and actually not only can we not push through with reforms, but we cannot adopt the budget," Borissov told a news conference broadcast live by BNT. "On the first working day, I will deposit the resignation of this cabinet."
Bulgaria's minority government was formed by GERB, the Reformist Bloc - an alliance of five right-wing parties - left-wing ABV, and the Patriotic Front after elections held in October 2014 in which GERB polled 32.67% of the votes.
Bulgaria's president, elected for a five-year term, has very limited executive authority - he can veto bills, as parliament can override his veto. The president is commander-in-chief of the armed forces.
The incumbent president Rossen Plevneliev was elected in 2011 on GERB's ticket.