Radev Warns of Price Hikes as Bulgaria Debates Euro Adoption

Bulgaria's President Rumen Radev raised concerns about the potential for a sharp rise in food prices following the publication of a report on Bulgaria's readiness to join the Eurozone. He stated, "People should carefully monitor any unjustified price increases." Radev's statement comes amid concerns about Bulgaria's economic preparedness for the transition. According to data from the National Statistical Institute (NSI), approximately one-third of Bulgarians are currently living in extreme poverty. This statistic casts doubt on the country's readiness for the significant economic changes associated with adopting the euro. Radev's call for vigilance highlights the potential for social and economic disruption if adequate measures aren't taken to mitigate the impact of price increases. The convergence report, which assessed Bulgaria's readiness for the euro, has triggered a national debate on the economic and social implications of adopting the single currency. The upcoming referendum will allow the Bulgarian people to directly voice their opinion on this crucial issue.