16:40 22 June 2025
Bulgaria Set to Join Eurozone in 2026 Following EU Ministers' Approval
Bulgaria is on track to adopt the euro on January 1, 2026, becoming the 21st member of the eurozone. The decision follows a formal recommendation from the European Commission and the European Central Bank on June 4, and has now been endorsed by the Eurogroup – composed of finance ministers from euro area countries.
Paschal Donohoe, president of the Eurogroup, announced that Bulgaria meets all necessary criteria for adopting the common currency. The final approval process will involve all 27 EU finance ministers, expected to confirm the recommendation during today’s Council of the EU meeting (June 20).
The next step is the endorsement by EU heads of state at a summit on June 26, after which the exact exchange rate between the Bulgarian lev and the euro will be set in early July. This will initiate a six-month transition period, preparing the country for full monetary integration in 2026.
(EURACTIV)
