Bulgaria's Prime Minister: Convergence Report for the Euro Area will Probably Come Out in Early June

The Convergence Report will likely be released at the beginning of June. From there, all subsequent steps will follow, Prime Minister Rosen Zhelyazkov said to journalists on February 25.

"We have submitted a request for an extraordinary report based on the understanding that we have met the convergence criteria," he said.

• Government Decided to Request Convergence Report on Bulgaria's Readiness to Join the Eurozone

The Prime Minister noted that a lengthy process is ahead, during which the ECB and the European Commission will assess compliance, and the matter will then be discussed in ECOFIN, the Eurogroup, and the European Parliament.

According to him, there are many steps to be taken to determine whether the country is ready to adopt the euro by January 1, 2026.

"If we meet the criteria and this is assessed by the ECB and the European Commission, it's all a matter of procedure and in terms of the whole campaign for the introduction of the euro," Zhelyazkov said.

As regards sending of Bulgarian troops to Ukraine, Zhelyazkov stated that Bulgaria's position is very clear—Bulgarian armed forces will not be sent to Ukraine.

Zhelyazkov also commented on the UN resolution on Ukraine's territorial integrity.

"This is a resolution that is part of our understanding of European solidarity and respect for Europe's interests. The war is directly related to the security architecture of the European continent. We are guided by the belief that lasting and stable peace in Ukraine cannot be achieved without respect for Ukraine's interests, Ukraine's participation and Europe's interests," Zhelyazkov said.