Bulgaria Moves Closer to New Election After Another Vote Fails

(Bloomberg) -- Bulgaria’s political stalemate deepened further Monday, bringing the country closer to a seventh general election in less than four years, as an attempt to form a coalition with an anti-corruption agenda failed.

An alliance led by former premiers Kiril Petkov and Nikolai Denkov ended their efforts to form a cabinet, saying they lack sufficient backing in parliament for their anti-graft agenda. An earlier bid by a long-time Prime Minister Boyko Borissov to return to power after victory in June elections also failed.

“Unfortunately, it turned out impossible” to conduct anti-corruption reforms in this parliament, Denkov told President Rumen Radev.

Bulgaria is facing the prospect of another snap election as early as October if the third and final attempt to appoint a government fails, which is looking increasingly likely. Repeated elections have hindered Bulgaria’s efforts to join the euro area, tackle widespread graft and gain full access to European Union aid.

Deep political and social divisions and years of corruption scandals have kept the Black Sea nation without a stable majority since 2021, when months-long protests ended the dominance of Borissov and his Gerb party.

Efforts to end the stalemate have been complicated by the growing influence of Delyan Peevski, a lawmaker and former media mogul sanctioned by the US for corruption. He has repeatedly denied any wrongdoing as he appeals the US sanctions.

Peevski’s party has played the kingmaker in parliament since the fall of communism in the early 1990s, but plagued by conflicts, it doomed Borissov’s bid to form the government this time around.

A new election is unlikely to change the situation with turnout already at record lows. Meanwhile, the turmoil has boosted support for populist and pro-Russian parties in the country, which is one of the EU’s major suppliers of Soviet-style ammunition still needed by the Ukrainian army less than 200 miles away.

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