Bulgaria Advances Eurozone Integration with Instant Payment System
The process of introducing the euro in Bulgaria is advancing, with the implementation of the Eurosystem’s TIPS (Target Instant Payment Settlement) service playing a central role
European Commission Backs Bulgaria's Eurozone Entry in 2025
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Photo: Lezli Ndreca
In a significant affirmation of Bulgaria's path towards Eurozone accession, European Commissioner for Economy Paolo Gentiloni has confirmed the European Commission's support for Bulgaria's admission to the Eurozone in 2025. The confirmation came during a meeting with Bulgaria's acting Deputy Prime Minister and Minister of Finance, Lyudmila Petkova, who is currently on a two-day visit to Brussels, according to reports from the Finance Ministry.
In the meeting, Deputy Prime Minister Petkova underscored the caretaker government's priorities, emphasizing the ongoing efforts to fulfill the necessary criteria for joining the Eurozone and the implementation of the country's Recovery and Sustainability Plan.
Petkova also outlined Bulgaria's intentions to execute the measures outlined in the second tranche of payments and to update the Recovery and Sustainability Plan, particularly focusing on the REPowerEU chapter. As part of these efforts, a meeting is scheduled for the following day with the leadership of the Working Group on Recovery and Sustainability from the European Commission.
The European Commission's support for Bulgaria's Eurozone accession in 2025 signals a significant step forward for the country's economic integration with the European Union, providing a boost to Bulgaria's aspirations for enhanced economic stability and growth.
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