Georgian President Mikheil Saakashvili conceded defeat on Tuesday in parliamentary polls that handed a shock victory to an opposition coalition led by billionaire tycoon Bidzina Ivanishvili.
Although Saakashvili remains president, the defeat of his United National Movement to Ivanishvili’s Georgian Dream coalition in Monday’s elections spells the end of his nine years of largely unchallenged dominance over Georgia.
“It is clear that the [opposition] Georgian Dream has won a majority,” Saakashvili said in a dramatic televised speech after elections hailed as an “important step” for democracy by international observers.
Without specifying the allocation of seats in the future parliament, he indicated that Georgian Dream would have the majority in the new assembly and would form the new government.
“We, as an opposition force, will fight for the future of our country,” he said, promising to facilitate the transition process as president.
Georgian Dream was leading Saakashvili’s United National Movement by 53.11 to 41.57 per cent after 29 per cent of electoral precincts declared results in the proportional ballot that will decide just over half of the parliamentary seats.