Prime Minister of Bulgaria (2023–2024)
Following the outcome of the Bulgarian parliamentary elections held in April 2023, on 22 May Denkov was projected to become Prime Minister of Bulgaria as part of a power-sharing agreement between the two most-voted coalitions, GERB—SDS and PP–DB. The deal implied that Denkov would lead the new government for the following nine months, before switching positions with Mariya Gabriel.
Following extensive talks between the two coalitions involved, as well as the Movement for Rights and Freedoms, an official agreement on the composition of the Denkov-Gabriel cabinet was reached on 2 June. On 6 June, the 49th National Assembly of Bulgaria voted in Denkov's new government, with 132 votes in favor and 69 against. The new government will focus on fighting Russian influence in Bulgaria's security sector and obtaining membership in the Schengen Area and the eurozone. A political crisis prompted Bulgaria to postpone adopting the euro until 2025. In December 2022, Austrian and Dutch opposition blocked Bulgaria and Romania from becoming members of the Schengen Area.
In September 2023, Denkov called Azerbaijan a "valuable partner" of Bulgaria. Denkov condemned Hamas' actions during the Gaza war and expressed his support to Israel.
On 30 December 2023, it became clear that Denkov's cabinet had secured membership for Bulgaria in the Schengen Area by air and sea. Although further negotiations in 2024 would be required to lift border controls by land, this was a major diplomatic success for the Denkov-Gabriel cabinet, which aimed for а positive decision regarding Schengen Area membership by the end of 2023 as part of the five government priorities stated in July of the same year.
Denkov resigned on 6 March 2024 as part of the power-sharing agreement with Gabriel. However, on 25 March, Gabriel withdrew her nomination for prime minister after announcing that negotiations on forming a new government with PP-DB had failed, and said that new elections would be held.
