Incumbent Boris Tadic has lost the presidential elections in Serbia to his opponent, Tomislav Nikolic from the Serbian Progressive Party.

Nikolic has won 49.2% of the votes in the runoff of the Serbian presidential elections on Sunday vs. 47.5% for Tadic, according to data of the Serbian Center for Free Elections and Democracy, cited by Radio B92 and Focus.

The data is based on the processing of 70% of the cast votes. According to the Center, the chance for a reversal of the result is very small.

The Serbian Progressive Party declared its triumph in the second round of the presidential elections late Sunday night. According to the party's deputy chair Alexander Vucic, Nikolic has won with a lead of 1.5%, as cited by C Media.

In the spring of 2012, Boris Tadic resigned as President of Serbia in order to bring about an early vote betting his bid on the country's unconditional EU accession.

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