Boyko Borissov

Bulgaria "looks set to veer sharply back into Moscow's strategic orbit after Socialist candidate Rumen Radev won the presidency in a landslide on Sunday," Politico writes in a report on the country's presidential election.

The new political project of Radan Kanev will seek the support of the voters from the right spectrum who voted for Rumen Radev. Тhis was announced by Atanas Atanasov - member of Democrats for Strong Bulgaria (DSB) during an interview on private Nova TV.

Bulgaria's centre-right Prime Minister, Boyko Borisov, submitted his resignation to parliament on Monday, after a left-wing opposition candidate defeated his nominee in the presidential election.

An emergency vote in parliament on his decision to step down is expected on Tuesday.

Bulgaria's Finance Minister Vladislav Goranov has dismissed claims of Parliament's budgetary committee head that the government intends on withdrawing the draft budget for next year.

In a statement, Goranov declares that the budget already filed with Parliament will not "fall hostage to the unprincipled political confrontation... [and] populism."

Bulgarian Prime Minister Boyko Borisov has deposited his resignation and that of his government, officials say.

An emergency vote is expected in Parliament tomorrow on his move to step down.

Bulgarian Prime Minister Boyko Borisov has said he will resign after the candidate of his GERB party on Sunday lost in the presidential elections.

The AFP agency said that Borisov, who has a black belt in karate, has thus performed "a self-inflicted knockout."

President-elect Rumen Radev has largely benefited from a "groundswell of popular resentment against the GERB-led coalition" in Bulgaria, the Financial Times has said, citing analysts.

Bulgaria seems poised to hold a snap general election after Sunday's presidential vote - but not before next year.

With a presidential transition due over the months to come, the President's competence to dissolve Parliament - a key prerequisite to setting an election date - is limited under the constitution.

Bulgarian Prime Minister Boyko Borissov has said he will step down after the candidate his party backed in the presidential elections, speaker of parliament Tsetska Tsacheva, got only 35 per cent in Sunday's run-off vote.

According to local media, Borissov also called for an early parliamentary election after the centre-right Tsacheva's defeat.

Bulgarian biggest opposition BSP party's leader Korneliya Ninova has made it clear she will not seek to form a government after the ruling GERB party resigns.