The countries with a euro community currency are ready to include Bulgaria in their circle. During a meeting in Luxembourg, the federal ministers of financial financing agreed that the Balkan country joins the eurozone. Originally, accession was planned for last year.
At the beginning of the month, the European Commission and the ECB had met Bulgaria for the criteria needed for an introduction to a euro. Now the Finance Ministers also gave the green light on the Balkan country on the eurozone on January 1, 2026.
This includes price stability, solid public finances and stable exchange rates. For example, inflation should not get out of hand, so that the value of the money is retained and its purchasing power is stored.
The euro congregation candidates must also prove that they have their government debt under control. And you must ensure that the exchange rate of your state currency remains stable so that companies can plan, for example.
Entry was postponed
Originally, the introduction of the euro in Bulgaria was planned for the beginning of 2024. From others, due to the relatively high inflation of 9.5 percent, accession was postponed. From the point of view of the EU committee, the criterion of price stability was not paid.
Bulgaria is one of the poorer EU countries and is also 2024 EU conclusion in the gross domestic product (GDP) per head of the population, although the growth rates were higher than elsewhere. The Balkan country has been a member of the European Union since 2007 and would be the 21st country with the community currency. In Bulgaria, the debate is about the introduction of the euro accompanied by violent protests.
Approval of the EU minister of finance needed
Subsequently, the finance ministers of all EU countries must agree to the plans before the EU state heads and the government are expected to be discussed in Bulgaria at the end of June that join the euro zone. Finally, after hearing the European Parliament and the ECB, the Member States must take on the necessary legal acts at the level of finances ministers.
Source: Krone
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