President Armen Sargsyan today accepted the resignation tendered by Prime Minister Karen Karapetyan.

Factions in the country’s parliament now has seven days to nominate candidates for prime minister, after which an election will be held. The nominee garnering a majority of votes will assume the post of prime minister.

The new prime minister, whose powers have been expanded under the new constitution, will then have fifteen days to form a new government.

After being elected, the prime minister has five days to present a list of nominees for deputy prime ministers and ministers to President Armen Sargsyan.

Sargsyan took the presidential oath of office earlier today.

Photo (from left): President Sargsyan, Prime Minister Karapetyan