Bulgaria has made a historic step toward deeper European integration – the European Commission and the European Central Bank have officially confirmed that the country has met all criteria for joining the eurozone, which means that on January 1st, 2026, it will become the 21st member of the monetary union.
“We have managed to reach a key milestone on our path to the introduction of the euro, marked by years of effort and strict fiscal discipline. The euro will strengthen Bulgaria’s economic stability and create a solid foundation for investment and growth,” said Bulgarian Prime Minister Rosen Zhelyazkov.
Although the final decision must be formally confirmed by the finance ministers of the eurozone – which is expected during July –the political message from Brussels is clear: Bulgaria is ready.
The path to the euro for Sofia has been far from simple. Years of political instability, populist resistance to the common currency, and failure to meet inflation targets led to multiple delays. In the past four years, the country has held as many as seven elections, and constant changes in government have slowed the reform process.
European Commissioner for Economy Valdis Dombrovskis confirmed that Bulgaria now meets all convergence criteria, including inflation, currency stability, public finances, and long-term interest rates.
The last obstacle – inflation – was overcome in April, when it fell to 3.5 percent, thus fulfilling the key condition for joining the eurozone.
Nevertheless, internal resistance has not disappeared. At protests in Sofia, of pro-Russian and populist character, gathered citizens expressed disagreement with the introduction of the euro.
President Rumen Radev, who acts outside the party system, proposed holding a referendum on this issue, which the government assessed as an attempt to sabotage the process.
Prime Minister Zhelyazkov, a member of the center-right party GERB, emphasized that entry into the eurozone also has a broader, geopolitical importance.
“The introduction of the euro is more than an economic measure – it is a strong expression of our European identity.”
All European Union (EU) member states that have not yet adopted the euro are obliged to demonstrate economic alignment with the Maastricht criteria in order to gain the right to join the eurozone. Bulgaria is now one step closer to full integration with the rest of the Union – in a symbolic, political, and economic sense.
