President Rumen Radev announced Monday he will resign on Tuesday ahead of snap elections, plunging the country into further political turmoil.

"Today, I am addressing you for the last time as president of Bulgaria," Radev said in a televised address. He added he wants to join the "battle for the future" of Bulgaria "alongside all of you — the dignified, the inspired and the unyielding."

The Balkan nation, which adopted the euro on January 1, has been shaken by anti-corruption protests that toppled a conservative-led government in December. Radev blamed the "pernicious model of governance" for widespread poverty, unrest, and public distrust in institutions.

Speculation is rife that Radev may run in the elections, aiming to "unite all" in fighting corruption. His resignation is the first by a Bulgarian head of state since the end of communism. Deputy Iliana Iotova, a former journalist and Socialist lawmaker, is expected to serve as interim president.

The elections, Bulgaria’s eighth in five years, are expected in late March or April, with the interim president appointing a caretaker prime minister and setting the vote date. Radev’s term had been due to end early next year.

A former fighter pilot and commander of the Bulgarian air force, Radev was first elected in 2016 with Socialist support. He voiced backing for anti-graft protests in 2020 and won a second five-year term in 2021 with nearly 67 percent of the vote. Often at odds with the government, he opposed sending military aid to Ukraine and criticized EU allies over US-led "peace efforts," he told CNN last year.

Political analysts say Radev’s move is driven by the momentum of the protests. "His goal is to be close to the majority so that he doesn't have to negotiate," said Parvan Simeonov of the Myara polling agency. A recent Market Links poll shows Radev with a 44 percent approval rating, and Simeonov added that a strong showing for him could provide "a way out of the crisis."

Bulgaria consistently ranks among the EU’s lowest countries on Transparency International’s Corruption Perceptions Index.