Bulgaria held the first round of its presidential election on Sunday 25 October. According to results from 99.94% of polling station reports, the incumbent president Iliana Iotova is leading with 34.76%. In second place is Andrey Gyurov – 31.94%. Third, with 12.54%, is Kostadin Kostadinov, leader of the far-right Revival party. None of the other candidates passed 5%, and 4.42% of voters chose “against all”.
A record 27 candidates stood. The run-off, between Iotova and Gyurov, will take place on Sunday 1 November.
The candidates differ above all in their attitude to the war in Ukraine. Iotova, backed by the party of prime minister Rumen Radev, favours dialogue with Moscow and opposes military aid for Ukraine. She became president this year when Radev left office to run in the parliamentary election. Gyurov is an economist and banker, a former deputy governor of the central bank and prime minister of a caretaker government in early 2026. He is backed by pro-European opposition parties. As prime minister he signed a security cooperation agreement with Kyiv.
Drone attacks on merchant ships off Bulgaria’s Black Sea coast and rising energy prices and inflation were also important in the campaign.
What it means for you
- Polish and UK firms trading in the Balkans: Bulgaria is in the EU and the euro area. The election result will not change trading rules overnight, but it may affect the political mood and government stability.
- Transport and logistics: security in the Black Sea and in Bulgarian ports matters for hauliers and cargo insurance.
- Policy on Ukraine: a victory for Iotova would strengthen the group of EU politicians sceptical of military aid for Kyiv – alongside Hungary, among others.
Our assessment
The president of Bulgaria has less power than the government, but is commander-in-chief of the armed forces and an important voice in foreign policy. Iotova’s first-round lead is small – less than 3 percentage points. The key will be how Kostadinov’s voters and those who stayed at home in the first round vote. For Poland and Britain, both strong supporters of Ukraine, a Gyurov win would mean a more predictable partner on NATO’s eastern flank.
What to do
- Have contracts or transport through Bulgaria? Follow warnings for travellers and businesses on GOV.UK – Bulgaria travel advice.
- Polish companies can find information about the Bulgarian market on the website of the Polish Embassy in Sofia.
Sources: LIGA.net – first-round results (26.10.2026); Euronews (25.10.2026).
We assess factual corrections and substantive responses. Verified changes are reflected in our reporting.
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