Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

EC, ECB convergence reports greenlight Bulgaria's entry into the eurozone

Photo: ЕПА/БГНЕС

As expected, the European Commission's convergence report on Bulgaria, published today, confirms that the country is ready to adopt the euro on 1 January 2026, having fulfilled all the relevant criteria, including those related to inflation, BNR's Brussels correspondent Angelina Piskova reports. Bulgaria’s average inflation rate stood at 2.7%, below the reference value of 2.8%. This will make Bulgaria the 21st member state to join the eurozone.


However, the Commission warns that inflation is expected to rise in the coming months before subsequently declining, emphasising that the increase will be temporary.

Ursula von der Leyen

'Thanks to the euro, the Bulgarian economy will become stronger, with increased trade with euro area partners, more foreign direct investment, improved access to financing, quality jobs and real income growth. Bulgaria will also take its rightful place in shaping decisions at the heart of the euro area”, said European Commission President Ursula von der Leyen.


The convergence report published by the European Central Bank also delivers a positive assessment of Bulgaria’s readiness to adopt the euro on 1 January next year, as reported by BNR's Marta Mladenova. The ECB highlights that Bulgaria has been part of the Exchange Rate Mechanism II (ERM II) and the Banking Union since 10 July 2020.


The next step will take place on 19 June, when the Eurogroup — the assembly of eurozone finance ministers responsible for coordinating economic policies — will discuss the reports at its meeting in Luxembourg and adopt a draft recommendation for the Council. The process is expected to conclude on 8 July, when the Eurogroup will formally adopt the legislative acts necessary for Bulgaria’s accession to the euro area.




Editor: Miglena Ivanova
Posted and translated in English by E. Radkova
Photos: EPA/BGNES


Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Employment in Bulgaria is among the highest in the EU, but over 1 million people are unemployed

As of December 31, 2024, there were 3,765,000 people of working age, or 58.5% of the country's population. Men are 1,970,000, and women - 1,795,000. This was announced by the Deputy Chair of the National Statistical Institute (NSI)..

published on 10/22/25 10:46 AM

President Radev thanks South Africa for lifting short-term visas for Bulgarians

President Rumen Radev has sent a letter to President Cyril Ramaphosa expressing his gratitude for the decision of the Republic of South Africa to lift visa requirements for short-term stays for Bulgarian citizens. Radev..

published on 10/22/25 10:23 AM

GERB-SDS and DPS-New Beginning agree on full cabinet mandate

At a meeting in parliament in the presence of the party leaderships, the GERB-SDS coalition and the DPS-New Beginning party agreed on a full mandate to govern and fulfil the commitments for Bulgaria’s Euro-Atlantic orientation. This..

published on 10/22/25 9:53 AM