The EU has approved Bulgaria’s readiness to adopt the euro, clearing the way for a 2026 switch. The move follows inflation reforms and marks a milestone in the country’s EU integration.
A Bulgarian 50-lev bill and a €50 bill
The lev has been tied to the euro since 1991, with one lev worth about €0.51Image: BGNES
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The European Commission on Wednesday approved Bulgaria’s readiness to adopt the euro, saying the country was sufficiently ready to switch to the common currency.
A commission report found that, after successfully reducing inflation, Bulgaria was in a position to become the 21st European Union country to use the euro.
When will Bulgaria adopt the euro?
Bulgaria, an EU member since 2007, had initially aimed to adopt the euro in 2024 but delayed the move due to an inflation rate of 9.5% at the time. The European Commission now expects Bulgarian inflation to ease to 3.6% this year and drop to 1.8% by 2026.
The latest decision confirms that Bulgaria meets the necessary economic criteria to adopt the common currency on January 1, 2026.