Bulgaria will request a convergence report from the European Commission regarding its readiness to join the Eurozone once the country fulfills the price stability criterion, according to Finance Minister Temenuzhka Petkova. She explained that while Bulgaria meets most of the required criteria for eurozone membership, the sole remaining hurdle is related to price stability.

Eurostat recently announced that Bulgaria falls short of this criterion by 0.1 percentage points. Although the gap is minimal, it still prevents the country from meeting the necessary standards. Minister Petkova highlighted the importance of fully satisfying this requirement before moving forward with the application process.

In accordance with a decision by the National Assembly, the Finance Minister is mandated to submit a formal request to the European Commission for a convergence report within 14 days of meeting all the criteria. Petkova emphasized that this commitment will be honored without delay once the price stability requirement is achieved.

She reiterated that Bulgaria’s readiness to join the eurozone hinges on the fulfillment of this final condition. The government remains focused on addressing this issue to advance its goal of eurozone membership, in line with the procedural framework established by the Bulgarian parliament.

Source: BNR