Bulgaria's Eurozone Entry by 2026: Possible, But Tense, Expert Warns
Financier Plamen Danailov, a municipal councilor from the "There Is Such a People" party, recently discussed Bulgaria's potential adoption of the euro
Bulgaria remains committed to joining the Eurozone as swiftly as possible, with technical preparations progressing well. This was emphasized by Deputy Prime Minister and Finance Minister Lyudmila Petkova during the July meeting of the Economic and Financial Affairs Council in Brussels, according to the Bulgarian ministry's announcement.
Petkova indicated that once Bulgaria fulfills the final criterion related to price stability, the country plans to request expedited convergence reports from European institutions.
Receiving a prompt evaluation of Bulgaria's readiness and a definitive timeline for accession is crucial, Petkova added. This will provide essential predictability for both businesses and the public, allowing adequate time to finalize the necessary steps in the process.
In June, Bulgaria's annual inflation rose to 2.5% from 2.3% in May, according to the National Statistical Institute, despite a monthly deflation of 0.2%. Minimal price increases were noted in health services and entertainment, while significant rises over two percent occurred in restaurants and accommodations.
Most categories, including food and clothing, experienced price declines. Year-to-date inflation is at 0.2%, and the average annual rate from July 2023 to June 2024 decreased to 4.6%. The Harmonized Index of Consumer Prices reported monthly inflation of 0.2% and annual inflation of 2.8% for June. Meanwhile, May saw two consecutive months of deflation for the first time since 2020, with an annual inflation drop to 2.3%.
The Bulgarian Ministry of Finance has unveiled the draft State Budget for 2025, revealing a planned deficit of 6.4 billion leva
Financier Plamen Danailov, a municipal councilor from the "There Is Such a People" party, recently discussed Bulgaria's potential adoption of the euro
European Commissioner for Economy Valdis Dombrovskis has stated that Bulgaria's objective of joining the eurozone on January 1, 2026
In Krivodol, a municipality in Northwestern Bulgaria, local authorities are taking steps toward the eurozone transition well ahead of the February 20 deadline
Boyko Borissov, leader of GERB, defended the government’s progress on Bulgaria’s path to the eurozone
Bulgaria could adopt the euro as its official currency from January 1, 2026, if it successfully meets the necessary criteria for joining the eurozone
Bulgaria's Perperikon: A European Counterpart to Peru's Machu Picchu
Bulgarians Among EU's Least Frequent Vacationers, Struggling with Affordability