Bulgaria’s adoption of the euro is scheduled for 1 January 2026, making it the 21st member of the eurozone. When Brussels gave its backing in June, it said Bulgaria’s average inflation rate during the 12 months to April 2025 was 2.7pc, just below the reference value.
The European Commission confirmed that Bulgaria has met the necessary conditions for euro adoption. Approval of Bulgaria’s euro adoption will occur after EU finance ministers meet in Brussels to finalise legal texts.
ECB chief Christine Lagarde supported the euro’s role as a global reserve currency, advocating benefits for the EU.
Bulgaria wanted to adopt the euro sooner but Brussels judged its inflation was too high to meet the necessary criteria.
