Eurozone Endorses Bulgaria’s 2026 Entry
(MENAFN) On Thursday, euro area countries endorsed Bulgaria’s entry as the 21st member of the eurozone, aiming for the nation to adopt the euro by January 2026.
The EU’s Ecofin Council is set to vote on the necessary legal measures for Bulgaria’s accession on June 20, requiring approval by a qualified majority, according to the European Council.
Eurogroup President Paschal Donohoe stated, “This is a crucial step for Bulgaria’s euro adoption in 2026.”
Since joining the EU in 2007, Bulgaria has successfully met the convergence benchmarks, including maintaining low inflation and fiscal prudence, the Council reported.
Bulgaria’s currency, the lev, has been linked to the euro since 1999. The European Commission highlighted Bulgaria’s 2.7% inflation rate and public debt at 24.1%, both comfortably below EU thresholds.
The European Central Bank has previously recognized Bulgaria’s stable exchange rate and a 3.9% interest rate but emphasized the need for ongoing reforms.
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