Bulgaria’s constitutional court said on Friday it had approved the resignation of President Rumen Radev, opening the way for him to step down from the post.

Radev resigned this week, fuelling speculation that he will form his own political party to run in upcoming parliamentary elections. He was due to hold the largely ceremonial post until January 2027.

The Constitutional Court said Radev’s powers have now been removed.

Radev, whose resignation came after the previous government quit last month, will be replaced by Vice President Iliana Iotova, who is expected to appoint a caretaker government and set a date for parliamentary elections, the eighth in four years.

Radev has long raised the prospect of forming his own party to bring stability and fight graft in one of the European Union’s poorest and most corrupt countries, which joined the euro on January 1.

It was unclear if he would make a move ahead of the upcoming elections.