SOFIA, July 6 (Xinhua) -- Bulgaria's outgoing Prime Minister Sergei Stanishev said Sunday night that the results of the parliamentary elections were a serious defeat for his Socialist Party.

    "We accept with respect the choice of the Bulgarian voters. The results are a big ordeal, and a serious loss," Stanishev told a post-election press conference.

    He congratulated the center-right Citizens for European Development of Bulgaria (GERB) party on the election win, saying its success showed the people's expectations on the party.

    Stanishev outlined three major factors for his party's loss of the elections -- the impact of the global economic crisis, the ethnic card played against his coalition partner, and the GERB's success in creating public scare of an early election.

    Stanishev thanked the people who voted for his party. He said the elections were fair and honest, and any vote buying that might have taken place did not influence the results.

    Stanishev said he was concerned that a new rightist government of the GERB and the Blue Coalition might privatize the energy and healthcare sectors, and might cut down on salaries and pensions, threatening the social protection of the Bulgarian population.

    According to several exit polls and preliminary results released by the Central Electoral Commission, the GERB party won some 40 percent of the vote, with a wide margin over the Socialist Party, who garnered only about 18 percent of the vote.

    The Socialist-led coalition managed to usher Bulgaria into the European Union in 2007, but was sharply criticized both at home and abroad for its failure to reform slow and corrupt courts, curb organized crime and clear up its act in the absorption of EU development funds.

    The final results and the distribution of parliament seats will be announced no later than Thursday. The names of the newly elected members of parliament will be known on July 12 at the latest.