The European Commission has stated that the decision to hold a referendum on the adoption of the euro lies within the competence of Bulgaria’s national authorities. The response follows President Rumen Radev's announcement that he intends to propose such a referendum.

The Commission expects the special convergence report - requested by Bulgaria in February - to be ready by early June, according to Bulgarian National Radio's Brussels correspondent Angelina Piskova. The report will assess whether Bulgaria meets the criteria for joining the eurozone, as set out in the Treaty on the Functioning of the European Union.

Bulgaria has set itself the target of adopting the euro in 2026.