Bulgaria Aims for Euro Adoption by 2026 Amid Institutional and Economic Hurdles
February 17, 2025
Political leader Delyan Peevski has condemned recent actions by the Vazrazhdane party, emphasizing the need for state institutions to protect the central bank's integrity.
However, significant work remains for Bulgaria to complete before it can join the Eurozone, as acknowledged by European Commission Vice President Dombrovskis.
Concerns have been raised by municipal councilor Plamen Danailov regarding the feasibility of this timeline, citing the need for extensive institutional work.
Danailov also recognized the potential benefits of euro adoption, which include enhancing Bulgaria's image as a safer investment destination.
As of January 2025, Bulgaria's inflation rate is slightly above the Maastricht reference value, which poses a challenge for meeting the required criteria.
Brussels officials have indicated that there will be no immediate decisions made regarding Bulgaria's readiness at the upcoming Eurogroup meeting.
Danailov has expressed support for peaceful protests, viewing them as a legitimate means for the public to voice concerns and influence regulatory changes.
Dombrovskis emphasized that Bulgaria must fully meet the Maastricht criteria, particularly concerning inflation and fiscal policy, to achieve euro adoption.
Bulgaria plans to submit an official request to the European Commission and the European Central Bank for extraordinary convergence reports by the end of February 2025.
Bulgaria is on track to adopt the euro as its official currency by the start of 2026, contingent upon meeting all necessary eurozone accession criteria.
The new Bulgarian government, led by Finance Minister Temenuzhka Petkova, is actively engaging with Eurozone counterparts to report on the country's progress towards meeting euro adoption criteria.
The Bulgarian National Bank has urged for the independence of the bank to be upheld amidst political pressures, particularly following recent protests.
Summary based on 7 sources
Get a daily email with more EU News stories
Sources

EURACTIV • Feb 18, 2025
Dombrovskis: Bulgaria has still a chance to join the eurozone in 2026
Sofia News Agency • Feb 18, 2025
European Commission: Bulgaria on Track for Euro Adoption in 2026, but Challenges Remain - Novinite.com - Sofia News Agency
Sofia News Agency • Feb 14, 2025
No Obstacles to Bulgaria Joining the Eurozone in 2026 - Novinite.com - Sofia News Agency
Sofia News Agency • Feb 19, 2025
Bulgaria's Eurozone Entry by 2026: Possible, But Tense, Expert Warns - Novinite.com - Sofia News Agency