The European Commission published its 2025 Convergence Report on Bulgaria, concluding that the country is ready to adopt the euro on 1 January 2026, which would make it the twenty-first Member State to join the euro area. The report finds that Bulgaria fulfils the four nominal convergence criteria and that its legislation is compatible with the requirements of the Treaty and the Statute of the European System of Central Banks and of the European Central Bank. The assessment also considers additional factors relevant to economic integration and convergence, including balance of payments developments and the integration of product, labour and financial markets, and is complemented by the European Central Bank’s own Convergence Report. Following the assessment, the Commission adopted proposals for a Council Decision and a Council Regulation on introducing the euro in Bulgaria on 1 January 2026. The Council of the European Union will take the final decision after discussions in the Eurogroup and the European Council and once the European Parliament and the European Central Bank have delivered their opinions.
European Commission 2025-06-04
European Commission concludes Bulgaria meets criteria to adopt the euro on 1 January 2026
The European Commission's 2025 Convergence Report confirms Bulgaria's readiness to adopt the euro on 1 January 2026, meeting all nominal convergence criteria and legislative requirements. The report evaluates economic integration factors, supported by the European Central Bank's Convergence Report. The Commission has proposed a Council Decision and Regulation for Bulgaria's euro adoption, pending final approval by the Council of the European Union.