President Georgi Purvanov will form a new social democratic party after the end of his term in office, Novinar newspaper reported.

A week ago Purvanov and some of his supporters met to discuss the new project. Among the participants were politicians and sociologists.

Participants in the summit discussed policies during Purvanov’s first term in office, new political developments during his second term in office and upcoming initiatives until the end of the mandate.

Novinar reported that the aim of the summit was to draft early the ideas that will guide the new party.

According to the report several signs showed previously that a new project was underway. Bulgarian Socialist Party (BSP) member Boiko Radoev withdrew from the group.

In November 2006 presidential advisor Dimitar Ivanov formed an initiative committee named National Civic Union for Bulgaria. The aim of the committee is to promote active social involvement and to aid the setting up of Purvanov’s new party.