The European Commission has officially approved Bulgaria’s accession to the eurozone, setting January 1, 2026, as the date when the country will adopt the euro as its official currency. This decision marks a significant step in Bulgaria’s journey toward deeper integration into the European Union.
Meeting on June 4, the Commission confirmed that Bulgaria meets all four nominal convergence criteria—price stability, sound public finances, long-term interest rate alignment, and exchange rate stability—necessary to adopt the euro.
European Commission President Ursula von der Leyen stated:
“The euro is a tangible symbol of European strength and unity. Bulgaria’s admission into the eurozone reflects its economic and political progress.”
Next steps toward euro adoption
The European Central Bank is expected to release its official opinion later today, which Bulgarian officials anticipate will also be favorable. The final decision will rest with the Council of the European Union, which will consider the views of the Commission, the ECB, the Eurogroup, and the European Council.
A landmark year for Bulgaria in the EU
This move marks Bulgaria’s second major EU milestone in 2025. In January, the country joined the Schengen Area as a full member, opening its borders with Greece and Romania.
Still, the path to euro adoption hasn’t been easy. Bulgaria has faced legislative gridlock, high inflation, and concerns about anti-money laundering reforms. The country has held seven elections in just four years.
What does this mean for Bulgarian citizens?
Adopting the euro is expected to enhance economic stability, reduce transaction costs, and boost investor confidence. Starting January 1, 2026, the Bulgarian lev will be officially replaced by the euro.
