Controversy Surrounds Bulgaria's Euro Adoption

The Bulgarian National Assembly has dismissed President Rumen Radev's referendum proposal on adopting the euro, citing constitutional violations. The government aims to introduce the euro next year, expecting economic benefits. However, public opinion is divided, with concerns over potential price increases, as seen in Croatia.

The Bulgarian National Assembly, led by Speaker Nataliya Kiselova, has rejected President Rumen Radev's proposal for a national referendum on the euro adoption, citing constitutional breaches, according to BTA news agency.

President Radev suggested a vote on adopting the euro in 2026, which the government viewed as an obstruction to their plans aimed for next year. A government minister criticized the proposal as a deliberate effort to undermine the initiative.

Bulgaria aims to adopt the euro in January, pending evaluations from the European Commission and the European Central Bank. While economists highlight potential economic gains, such as increased foreign investment and favorable credit ratings, concerns over possible price increases, as experienced by Croatia, leave public opinion divided.

(With inputs from agencies.)