RIGA, May 7 (Xinhua) -- Latvia will have a new president this year as incumbent head of state Raimonds Vejonis has decided not to seek reelection after his term expires this year.

Talking to the press following his weekly meeting with Prime Minister Krisjanis Karins on Tuesday, Vejonis described the past four years of his presidency as a time of intensive work aimed at increasing the sustainability and prosperity of Latvia.

Vejonis has decided not to join the race for the presidency after the opposition Green Party of Latvia, of which he used to be a member, became the only political party to support for his possible reelection bid.

Latvia's center-right government coalition, meanwhile, has endorsed European Court of Justice judge Egils Levits for Latvia's next president.

In Latvia's last presidential election, which took place in June 2015, Vejonis beat rival contender Levits, but this time Levits' chances of getting elected look much better as he has already secured at least 55 votes in Latvia's 100-seat parliament.

The government coalition announced their decision to nominate Levits for the Latvian presidency in mid-April. The parliament is due to elect the next president of Latvia at the end of May or early June.