Bulgaria is seeking an evaluation from the European Union on its readiness to adopt the euro next year. The country plans to approach both the European Commission and the European Central Bank to assess whether it fulfills all the necessary criteria to join the eurozone by January 2026.
To qualify for eurozone membership, a country’s inflation rate must not surpass the inflation rate of the three best-performing EU member states by more than 1.5 percentage points. “Recent data showed that Bulgaria has reached the inflation target,” stated Finance Minister Temenuzhka Petkova, referring to February’s inflation figure of 2.6%.
Bulgaria, the EU’s poorest member, has set its sights on joining the eurozone in January. However, the country still needs to finalize its 2025 budget, which will aim to keep the deficit at 3% of GDP — the threshold required for eurozone membership.
Economists argue that adopting the euro could attract more foreign investment to Bulgaria, improve its credit ratings, and reduce debt financing costs. However, public opinion on the euro’s introduction is divided, with many Bulgarians expressing concerns about potential price hikes, similar to the ones experienced in Croatia after it adopted the euro in 2023.
