Bulgaria meets criteria to join euro area in 2026: European Commission
The report, requested by Bulgarian authorities in February 2025, was published alongside the European Central Bank's (ECB) own Convergence Report. It also considers Bulgaria's economic integration, including trade, labour, and financial markets, the European Commission said in a press release.
Ursula von der Leyen, President of the European Commission said: 'The euro is a tangible symbol of European strength and unity. Today, Bulgaria is one step closer to its adoption as currency. Thanks to the euro, Bulgaria's economy will become stronger, with more trade with euro area partners, foreign direct investment, access to finance, quality jobs and real incomes. And Bulgaria will take its rightful place in shaping the decisions at the heart of the euro area. Congratulations, Bulgaria!'
The European Commission has confirmed Bulgaria's readiness to adopt the euro on January 1, 2026, as outlined in the 2025 Convergence Report. Bulgaria meets all required economic and legislative criteria and will become the twenty-first euro area member. Final approval now rests with the Council of the EU following consultation with the ECB, European Parliament, and Eurogroup.
Following the report, the Commission has adopted proposals for a Council Decision and Regulation on Bulgaria's euro adoption. The final approval will come from the Council of the EU after consultation with the European Parliament, the ECB, and discussions within the Eurogroup and European Council.
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