Brussels: Bulgaria is ready to adopt the euro on January 1, 2026, after meeting all necessary criteria, the European Commission announced in its 2025 Convergence Report. This report was prepared at the request of Bulgarian authorities and confirmed that the country fulfills the four nominal convergence criteria required for euro adoption and that its legislation aligns with EU rules.
According to Anadolu Agency, the European Commission described this development as a critical and historic step on Bulgaria's journey towards euro adoption. The commission stated that the country's economy is sufficiently prepared for integration into the euro area. European Commission President Ursula von der Leyen expressed her approval, noting that Bulgaria is one step closer to adopting the euro as its currency.
President von der Leyen emphasized the benefits of euro adoption for Bulgaria, highlighting that the country's economy is expected to become stronger, with increased trade with euro area partners, more foreign direct investment, better access to finance, quality jobs, and improved real incomes. Bulgaria is set to become the 21st member of the euro area, pending a final decision by the EU Council.
The commission's report was issued alongside a parallel assessment by the European Central Bank. Bulgaria initially submitted its official request for a special Convergence Report in February 2025.