Tbilisi: Georgian President Mikheil Saakashvili has admitted that his party has lost Georgia`s parliamentary election on Tuesday in a live TV show, according to the BBC reports.
Earlier in the day, Georgian President and the Opposition both had claimed their victory. The parliamentary elections are very crucial as this will determine the future direction of this former Soviet republic.
BBC quoted President Mikheil’s statement as saying: “The Georgian Dream bloc of his main rival, billionaire tycoon Bidzina Ivanishvili, had won Monday`s election.”
The first democratic transfer of power in Georgia`s post-Soviet will take place in the history with the victory of Bidzina Ivanishvili.
Under Saakashvili, the former Soviet republic has aligned itself with the United States, while striving to join the European Union and NATO.