SUKHUMI, October 7 (RIA Novosti) - Abkhazia will hold a presidential election on December 12, the former Georgian republic's parliament decided on Wednesday.

Although Abkhazia has been de facto independent since the early 1990s, these will be its first presidential elections since it was recognized as an independent state by Russia in August 2008.

In line with the republic's constitutional law on presidential elections, the elections are scheduled by the People's Assembly not later than four months before the end of the previous president's term, and are held not earlier than three and not later than two months before it.

Abkhaz incumbent president Sergei Bagapsh took office on February 12, 2005.

Sergei Bagapsh, former deputy premier Raul Khadzhimba and businessman Beslan Butba, leader of the Party for Economic Development of Abkhazia, are set to run in the upcoming election.