European Central Bank President Christine Lagarde has expressed confidence that Bulgaria’s entry into the eurozone will bring significant economic advantages, strengthening stability and delivering tangible benefits for citizens, businesses, and banks alike.

In a statement published on her official Facebook page, Lagarde highlighted that in precisely 100 days, Bulgaria will formally join as the 21st member of the eurozone. She underlined the importance of this milestone, noting that the adoption of the single currency would mark a decisive step forward in deepening Bulgaria’s integration within the European Union’s economic framework.

The move follows the decision of the Council of the European Union for Economic and Financial Affairs (ECOFIN) on July 8, which completed Bulgaria’s accession process. At that session, ministers adopted three legal acts to finalize the procedure: the Council Decision confirming Bulgaria’s adoption of the euro, an amendment to Regulation (EC) 974/98 governing the introduction of the euro in the country, and an amendment to Regulation (EC) 2866/98 establishing the official exchange rate for the transition.

Bulgaria’s entry into the eurozone became possible only after meeting a series of strict requirements. Inflation was brought under control and reduced below the reference threshold, ensuring price stability. Public finances were assessed as sound, with both the budget deficit and public debt kept within the limits laid out in the Maastricht criteria. Additionally, the Bulgarian lev maintained its exchange rate within the ERM II mechanism for over two years, satisfying the final condition for euro adoption.

Through these steps, Bulgaria has demonstrated readiness to transition to the common European currency, with Lagarde stressing that the benefits will be felt across society and the economy once the euro becomes legal tender.