Brussels: The European Union on Wednesday announced its approval of Bulgaria's accession to the eurozone starting January 1, 2026, making it the next country to adopt the euro as its official currency.
According to Jordan News Agency, the European Commission said in a statement that the decision was based on its 2025 Convergence Report, which concluded that Bulgaria has met all the necessary economic and legal criteria for joining the euro area. These include price stability, sound public finances, exchange rate stability, and convergence of long-term interest rates, in addition to aligning national legislation with EU law.
The Commission noted that this positive economic assessment reinforces Bulgaria's position within the European framework. The European Central Bank (ECB) also released a concurrent report endorsing the Commission's findings.
Bulgaria had formally requested the preparation of a special assessment report in February this year to evaluate its readiness to adopt the common currency ahead of its planned accession at the beginning of next year.