OREANDA-NEWS  Bulgarian President Rumen Radev has announced his intention to resign, and Vice President Iliyana Yotova will become head of state, Bulgarian media reported on Monday.

"I will resign from the post of President of Bulgaria. I am sure that Vice President Iliyana Yotova will become a worthy head of state. A decisive battle awaits us for the future of our country. We are ready, we can do anything, and we will succeed," he said in a video message.

Earlier, Bulgarian media reported that Radev may resign in order to create his own party to participate in the parliamentary elections expected this year. The president himself stated that this had become necessary due to the failure of the current authorities.

"If the authorities had protected national interests, respected the constitution and the separation of powers, and renounced corruption and arrogance, the issue of forming my party would not have been raised," he stressed.

Radev has been president of Bulgaria for nine years, during which time he appointed interim governments seven times.