Bulgaria's euro introduction: Green light for 2026!

Bulgaria's euro introduction: Green light for 2026!

Bulgarien, Europa - On June 19, 2025, the Euro countries approved Bulgaria's accession to the euro zone. This was officially announced by the financial ministers of the Euro countries, which means that the planned accession on January 1, 2026 can now become a reality. The European Commission and the European Central Bank (ECB) have confirmed that Bulgaria meets the necessary criteria for the introduction of the euro.

The criteria for accession include price stability, solid public finances and stable exchange rates. Originally, a euro launch was already scheduled for early 2024, but an inflation rate of 9.5% led to a shift in plans. Bulgaria is one of the poorer EU countries and has the lowest gross domestic product (GDP) per capita within the EU. Bulgaria has been a member of the European Union since 2007.

Further steps for the introduction of the euro

With the positive vote of the Euro countries, the finance minister of all EU countries must now also be approved. The next step includes a discussion of the EU heads of state and government, which is expected to take place at the end of June. In addition, the necessary legal files must be passed after a hearing of the European Parliament and the ECB.

The ECB had already given a positive assessment on the progress of Bulgaria with regard to the introduction of the euro in a published convergence report on June 4, 2025. Bulgaria has shown significant progress in economic convergence with the euro area since 2024, which was also recognized by Philip R. Lane, a member of the ECB directorate.

The report found that Bulgaria met the reference values ​​of the convergence criteria and legal requirements. In April 2025, the harmonized consumer price index control rate (HVPI) was 2.7% and thus below the reference value of 2.8%. In addition, Bulgaria fulfills the criteria for public finances, with a budget deficit of 3.0% of GDP in 2024, which meets the necessary reference value of 3%.

look at the euro zone

After the successful introduction of the euro, Bulgaria would be the 21st country that this currency accepts. The euro zone currently uses the euro as an official currency in 20 member states of the European Union. The euro zone is part of the Economic and Monetary Union (WWU), which was founded in 1999. Since then, significant changes have arisen: The first countries introduced the euro in 2002, and Croatia carried out the move to the euro currency on January 1, 2023.

If Bulgaria successfully enters the euro zone, this could not only promote the economic stability of the country, but also strengthen its influence on European financial policy. Bulgaria's underpinning participation in the exchange rate mechanism II and in the banking union since July 10, 2020 also shows the country's commitment to sustainable and stable economic development.