Rumen Radev, Bulgaria's president, indicated on Friday that he will propose to parliament a countrywide referendum on euro adoption in 2026.

In a public address, Radev stated that Bulgaria, as a full member of the European Union since 2007, is facing a key strategic decision regarding the adoption of the single European currency. He underlined that other EU countries had held referendums on joining the Eurozone, according to Xinhua.

Under the Bulgarian constitution, the president can set a date for a referendum only after the National Assembly approves the proposal.

Finance Minister Temenuzhka Petkova recently stated that Bulgaria has completed all of the requirements for Eurozone membership and is awaiting assessments from the European Commission and the European Central Bank. She expressed hope for a positive outcome, Xinhua reported.