Portuguese President Marcelo Rebelo de Sousa announced Thursday that snap elections will be held on May 18, according to Anadolu Agency.

The announcement follows the collapse of the conservative government led by Prime Minister Luis Montenegro, who lost a confidence vote amid allegations of conflict of interest.This will be Portugal’s third election in as many years.

In a speech, Rebelo de Sousa described the government’s collapse as “a shock” that comes in the context of “peace and war and a very difficult international economic situation.”

He added that he hopes the fresh elections will “strengthen, not weaken” democracy and lead to a “serene, dignified, tolerant” debate.

Portugal’s last general elections were held just over a year ago, when Montenegro’s party won only two more seats than its Socialist Party rivals.

Hoping to keep the far-right party Chega in the background, the Socialist Party allowed Montenegro to govern with a minority.

However, lawmakers voted to oust him on Tuesday over reports that his family’s law firm received payments from a company that had won a significant government concession.

Montenegro denies any wrongdoing, claiming the firm has been operated by his wife and children since 2022, when he became his party’s leader.

He insists he has had no involvement in its management and is set to run for reelection.

The same Socialist Party candidate as in 2024 is also set to run.