site.btaEuropean Commission to Present Ad-hoc Report on Bulgaria's Readiness for Eurozone in Early Summer

The European Commission is preparing and will present in early summer an ad-hoc report on Bulgaria's readiness for the introduction of the euro, said a spokesperson for the institution in a press conference on Wednesday.

The procedure continues, Bulgaria is taking steps towards the introduction of the euro, the spokesperson pointed out. The last report from last year indicated that three of the four main requirements had been met. At the end of February, the EC received a request from the Bulgarian authorities for an ad-hoc report, which is currently being prepared and will be presented in early summer, they added.

Earlier this year, the Bulgarian government expressed its expectation that the reports of the EC and the European Central Bank would be ready in May or June. This country is preparing for the introduction of the common currency from the beginning of next year, if the reports are positive and if the necessary support is received from the EU countries.