Presidential race in Bulgaria heads to run-off after record low turnout

The presidential election in Bulgaria ended inconclusively, with no candidate receiving a majority of votes. This has led to a run-off between two candidates, including Andrey Gyurov, the pro-Western reformist opposition candidate. The low voter turnout, a record low in Bulgarian history, is attributed to a general mistrust in politicians, which has resulted in voter apathy. This highly polarised contest on November 1 will likely have significant implications for Bulgaria's economic and political landscape.

Why it matters

The presidential election in Bulgaria ended without a clear winner, which may lead to uncertainty in the market. A run-off election will be held to determine the next head of state, which could impact investor confidence.

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