The Association of Banks in Bulgaria has issued a statement expressing unequivocal support for Bulgaria's accession to the eurozone on January 1, 2026. In its message, the organization emphasizes that the country’s banking sector is already deeply integrated with the eurozone, paving the way for a smooth transition.

The Association acknowledges the significant progress in meeting the eurozone membership criteria, particularly in terms of price stability. Data from April indicate a notable decline in inflation rates in Bulgaria, reinforcing the view that the country has fully and permanently satisfied the requirements for joining the eurozone.

In addition, Bulgaria’s low level of government debt is highlighted as a key strength, with a government debt-to-GDP ratio of 24.1% at the end of the year, well below the EU average of 81%. The budget deficit remains within the 3% threshold, and the long-term interest rate for convergence evaluation stood at 3.9294 at the end of March. Furthermore, the economy posted a solid 3.1% growth in the first quarter, positioning Bulgaria among the top performers in the European Union.

The statement also recalls Bulgaria’s unwavering and sustained efforts to achieve full EU membership. From the Negotiating Position and the Additional Information under Chapter 11 “Economic and Monetary Union” back in 2001, to the Pre-Accession Economic Programs for 2002-2005 and 2004-2007, and the Accession Treaty effective since January 1, 2007, Bulgaria has demonstrated a long-standing commitment to adopting the single European currency. The Association underscores that adopting the euro in 2026 is the natural and expected outcome of these consistent efforts by both the state and the banking sector.

Transitioning to the euro will mark the end of the currency board arrangement and Bulgaria’s entry into the EU’s shared monetary system. This step is expected to propel economic development, accelerate reforms, and improve living standards for society as a whole. The adoption of the euro will bring advantages not only through lower transaction costs but also by creating a more attractive environment for investments. The resulting boost in domestic and foreign investments will help stimulate employment and support further economic growth.

For businesses, joining the eurozone will simplify access to new markets and expand trade opportunities for Bulgarian companies. These developments are also expected to speed up convergence with other European countries.

Since 2020, Bulgaria has been part of the Single Supervisory Mechanism and the Exchange Rate Mechanism II (ERM II), which already places the banking sector within the structures of the eurozone to a large extent. Banks in Bulgaria are fully prepared to welcome the euro, both as the country’s future currency and as a symbol of deeper integration with the European Union. The euro, already in use by 20 European countries and over 350 million people, stands to further solidify Bulgaria’s place within the EU. The Association of Banks reiterates its strong and unwavering support for Bulgaria’s planned accession to the eurozone on January 1, 2026.