The European Commission announced on Wednesday that Bulgaria meets the criteria to adopt the euro starting Jan. 1, 2026, positioning it to become the 21st member of the euro area, reported Xinhua.
The conclusion, outlined in the Commission's 2025 Convergence Report prepared at Bulgaria's request, confirms that the country fulfills the four nominal convergence criteria required for euro adoption. The assessment also considered broader economic indicators, such as market integration and balance of payments. A parallel report from the European Central Bank (ECB) supported the findings.
As a result, the Commission has proposed a Council decision and regulation for Bulgaria's euro introduction. The final decision is expected from the Council of the EU in the first half of July, following consultations with the Eurogroup, European Council, European Parliament, and the ECB.
"This brings Bulgaria one step closer to euro adoption," said the Commission's President Ursula von der Leyen, adding that membership would strengthen the country's economy through greater trade, investment, and access to finance.
Bulgarian Prime Minister Rossen Jeliazkov welcomed the positive assessment, calling it the result of years of reforms and coordination with European partners. He is expected to make a formal statement later on Wednesday.
Meanwhile, public opinion in Bulgaria remains divided. A recent survey by Research Center Trend showed that only 21 percent support adopting the euro in 2026, while 33 percent favor a delayed introduction and 38 percent oppose it altogether. Protests have been held in recent weeks demanding a referendum to retain the national currency, the lev.
Earlier in May, President Rumen Radev submitted a proposal to parliament calling for a national referendum on the euro. On May 27, the Constitutional Court opened an investigation into Parliament Speaker Nataliya Kiselova's rejection of the proposal.
- Euro
- Bulgaria
Source: www.dailyfinland.fi
