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Bulgaria is poised to adopt the euro on January 1, 2026, following a formal assessment by the European Central Bank (ECB) confirming that the country has met all the required criteria for accession to the Euro Area.
In its official statement, the ECB highlighted Bulgaria’s steady progress since 2024 in aligning its economic and legal frameworks with the Maastricht convergence criteria—conditions that EU countries must fulfill to adopt the common currency. These include price stability, sound public finances, exchange rate stability, and long-term interest rate convergence.
The ECB noted that Bulgaria, despite earlier delays mainly due to inflation-related shortcomings, has now successfully addressed all outstanding issues. The central bank concluded that the country is ready to transition to the euro as its official currency starting in 2026.
Although the ECB’s endorsement marks a significant milestone, the final decision on Bulgaria’s euro accession will be made by the Economic and Financial Affairs Council (Ecofin), which comprises the finance ministers of EU member states. Their approval, expected in July 2025, is the last step before formal integration.
If approved, Bulgaria would become the 21st country to join the Eurozone, the monetary union within the European Union that uses the euro as its official currency. This development would mark a significant step in the country’s long-standing ambition to fully integrate into the EU’s core economic institutions.
Commenting on the development, ECB Chief Economist Philip Lane said the central bank’s favorable assessment "opens the way for Bulgaria to join the euro on January 1, 2026," and become the next official member of the Euro Area. He also commended the Bulgarian government for its "tremendous determination" in implementing the required reforms and economic adjustments needed for accession.
Bulgaria’s transition to the euro would follow the country’s inclusion in the EU’s Exchange Rate Mechanism II (ERM II) in 2020, a preparatory stage for eventual euro adoption.
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