Bulgaria's president said he will dissolve parliament on August 6 and appoint an interim government to run the country until snap elections are held on October 5.
During consultations held on Sunday the president and the main political formations in the country agreed that it is impossible to form a new cabinet within the current National Assembly, Rosen Plevneliev said in a statement posted on the website of the presidency.
Prior to dissolving parliament, the president will hold consultations with the political parties represented in the National Assembly and the European Parliament. Consultations between the president, the parliament, the government and the political forces to ensure coordination, continuity and a smooth transition to the next administration will continue, Plevneliev added.
The cabinet of Plamen Oresharski is backed by the Socialists and the ethnic Turks' Movement for Rights and Freedoms (MRF).
Earlier this month, the leader of the MRF called for early general elections, saying the results of the recent elections for members of the European Parliament (EP) - in which the Socialists suffered a crushing defeat - created a new political reality in the country. In response, the leader of the Socialist party said that MRF having withdrawn its support for the government, early elections should be held as soon as possible.
The opposition centre-right GERB party won the May 25 elections for EP by a decisive margin, polling 30.4% of the votes. The Socialists' Coalition for Bulgaria was supported by a mere 18.9% of voters, followed closely by the MRF with 17.3%.
On June 17, Bulgaria's parliamentary-represented parties agreed to open talks on holding early general elections between September 28 and October 12.
Over the past year GERB has repeatedly called for early general elections in the country.
The leaders of two other political formations which crossed the 5.88% threshold for entry into the EP - Bulgaria without Censorship and the Reformist Bloc - too have demanded snap elections.