site.btaBrussels Expects to Present Bulgaria's Euro Area Readiness Report in Early June

European Commissioner for Economic Affairs and Productivity Valdis Dombrovskis confirmed on Tuesday that the European Commission expects to present a report on Bulgaria's readiness to join the euro area in early June.

The Commissioner would not comment on domestic political developments in Bulgaria, but said he had discussed the issue with Finance Minister Temenuzhka Petkova, representatives of the European Central Bank (ECB) and the Eurogroup President. Dombrovskis spoke at a new briefing after Tuesday's meeting of European finance ministers. "The message from Minister Petkova was very clear - the Bulgarian Government and the Bulgarian National Bank have submitted a request for convergence reports, and the Government and the Bank are sticking with it," he added.

“The European Commission and the European Central Bank are working to prepare the reports and we foresee to finalize the work in early June,” the Commissioner said.

Earlier on Tuesday, Minister Petkova told Bulgarian journalists in Brussels that Bulgaria's entry into the euro area on January 1 next year remains a key priority.

Later in the day, National Assembly Chair Nataliya Kiselova rejected as inadmissible President Rumen Radev's proposal for a referendum on the country's adoption of the euro in 2026.