Bulgarian President Rosen Plevneliev said in a statement here on Friday that he has decided not to run for a second term in fresh elections this autumn.
“I will not participate in the upcoming presidential elections for personal reasons,” Plevneliev said.
He informed Prime Minister Boyko Borissov on Thursday about this decision.
However, this does not mean an exit from politics, Plevneliev said, adding he had much to contribute to a modern and democratic Bulgaria in a peaceful, strong and united Europe.
However, Plevneliev said he would not establish a new political party or be a member of any existing ones.
Plevneliev, 52, won the last presidential elections in Bulgaria in October 2011 as a candidate of the ruling GERB party.
Before entering politics, he was a respected name in the construction business, and between July 2009 and September 2011, he was minister of Regional Development and Public Works.
According to the Bulgarian Constitution, the president is elected directly by voters for a period of five years, and shall be eligible for only one re-election to the same office.