The President of the United States of America (USA) and presidential candidate of the Democratic Party has dropped out of the country's 2024 elections.

President Biden, in a statement shared via X (formerly Twitter) on Sunday, July 21, 2024, said that even though he wanted to contest in the pending November 2024 presidential election, he believes that it is in the best interest of the country that he steps out of the race.

He added that he would address Americans on his decision in the course of the week.

“It has been the greatest honor of my life to serve as your President. And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term.

“I will speak to the Nation later this week in more detail about my decision. For now, let me express my deepest gratitude to all those who have worked so hard to see me reelected. I want to thank Vice President Kamala Harris for being an extraordinary partner in all this work. And let me express my heartfelt appreciation to the American people for the faith and trust you have placed in me,” parts of the statement read.

“I believe today what I always have: that there is nothing America can’t do when we do it together. We just have to remember we are the United States of America,” he added.

Biden's decision to pull out of the 2024 election comes on the back of growing concerns over his health and age.

Many notable Americans including members of his party called for him to step down from the race following his lackluster performance in the presidential debate held by CNN.

Read the full statement below:

My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best… pic.twitter.com/x8DnvuImJV

— Joe Biden (@JoeBiden) July 21, 2024