Sofia, Sep 14 (IANS): Bulgarian President Rumen Radev has signed a decree to hold new parliamentary elections on November 14, his press office said in a statement.

Through the same decree, Radev dissolved the National Assembly with effect from Thursday, Xinhua news agency quoted the statement as saying on Monday.

The President made the move after the six parties in Parliament failed to form a new cabinet after the July 11 elections.

These will be the third parliamentary elections this year.

Bulgarians went to the polls for the first time on April 4, after a four-year rule by a coalition government dominated by the GERB party.

However, the parties didn't elect a government, and the early elections were held on July 11, but with the same outcome.

On November 14, Bulgaria will also hold presidential elections.

They were scheduled by Parliament in accordance with the country's Constitution as Radev's term will expire at the end of January 2022.

The National Assembly is Bulgaria's legislative body.

It also elects the government by a simple majority, and has a four-year term, except in certain circumstances such as when it is unable to elect a government.

The President is the head of state, and is elected directly by the people for a period of five years.