EU approves Bulgaria to adopt euro in 2026

The European Commission has concluded that Bulgaria is ready to adopt the euro as of 1 January 2026, positioning

it to become the 21st Member State in the euro area. This decision, outlined in the 2025 Convergence Report,

follows a formal request by Bulgarian authorities and represents a key step in the country’s path toward full

eurozone membership.

The report finds that Bulgaria meets all four nominal convergence criteria—relating to price stability, sound public

finances, exchange rate stability, and long-term interest rates—indicating that its economy is sufficiently prepared

for euro adoption. Additionally, the country’s legislation is deemed compatible with the EU Treaties and the statutes

governing the European Central Bank (ECB) and the European System of Central Banks. The assessment also

considered broader economic factors such as balance of payments, market integration, and the overall health of

labour, product, and financial markets.

The European Central Bank published its own Convergence Report in parallel, also supporting Bulgaria’s readiness.

European Commission President Ursula von der Leyen praised the milestone, stating: “The euro is a tangible symbol

of European strength and unity. Bulgaria is one step closer to joining. The euro will strengthen Bulgaria’s economy,

increase trade, attract investment, and give Bulgaria a voice in eurozone decision-making.”

Following the assessment, the Commission adopted proposals for a Council Decision and a Council Regulation for

Bulgaria’s euro introduction on 1 January 2026. The final decision lies with the Council of the EU, following

consultations with the Eurogroup, European Council, European Parliament, and the ECB.

The Commission publishes Convergence Reports every two years or upon request from a Member State. Bulgaria

submitted its request in February 2025. The Convergence Report serves as the legal and technical foundation for

determining a Member State’s eligibility to adopt the euro.