The European Commission has announced that Bulgaria is prepared to adopt the euro on January 1, 2026. This decision will make Bulgaria the twenty-first member of the euro area. The announcement was made in the 2025 Convergence Report, which was requested by Bulgarian authorities and represents a significant step towards euro adoption for the country.
The report indicates that Bulgaria meets the four nominal convergence criteria necessary for adopting the euro, ensuring that its economy is adequately prepared. Additionally, Bulgarian legislation aligns with the requirements of both the Treaty and the Statute of the European System of Central Banks and of the European Central Bank (ECB). The assessment also considers other factors related to economic integration and convergence, such as balance of payments developments and market integration.
This evaluation is supported by a similar report from the ECB released concurrently.
Ursula von der Leyen, President of the European Commission, stated: “The euro is a tangible symbol of European strength and unity. Today, Bulgaria is one step closer to its adoption as currency. Thanks to the euro, Bulgaria’s economy will become stronger, with more trade with euro area partners, foreign direct investment, access to finance, quality jobs and real incomes. And Bulgaria will take its rightful place in shaping the decisions at the heart of the euro area. Congratulations, Bulgaria!”
Following this assessment, proposals have been adopted for a Council Decision and a Council Regulation regarding Bulgaria’s introduction of the euro on January 1, 2026. The final decision will be made by the Council of the EU after discussions in various EU bodies and after receiving opinions from both the European Parliament and ECB.
Convergence Reports are typically issued biennially or upon request from a Member State seeking to join the euro area. In February 2025, Bulgaria requested a special Convergence Report aiming for euro adoption in 2026.
For further information:
Questions and answers: Convergence Report 2025 on Bulgaria
European Commission Convergence Report 2025
ECB Convergence Report 2025
Previous Convergence Reports
The Euro
Economic and Monetary Union
Contact Information:
Balazs Ujvari – Spokesperson
Phone: +32 2 29 54578
Email: [email protected]
Francisca Marçal Santos – Press Officer
Phone: +32 2 29 97236
Email: [email protected]
Thérèse Lerebours – Press Officer
Phone: +32 2 29 63303
Email: [email protected]
