The GERB-SDS alliance rejected the president's request to form a new government, increasing the chances for early elections in Bulgaria.

The largest parliamentary group in Bulgaria, the center-right GERB-SDS alliance, rejected on Monday President Rumen Radev's request to try to form a new government, which increases the likelihood of early elections. The coalition government led by Prime Minister Rosen Jeliazkov resigned last month following protests against corruption and a contested budget.

Jeliazkov quickly returned the mandate, believing that he does not have the necessary support to form a stable majority. President Radev could now offer the chance to govern to the reformist alliance PP-DB, but it is also possible that they will refuse the offer. If no party succeeds in forming a government, Radev will dissolve the National Assembly and call for early elections, which would be the eighth round of elections in four years. Despite the political instability, Bulgaria joined the eurozone on January 1, but it needs stability to attract European funds and combat corruption.