Bulgaria’s Ministry of Finance announced that the country will submit an official request to the European Commission and the European Central Bank (ECB) by the end of February 2025 to prepare extraordinary Convergence Reports, as part of its preparations to join the euro area. Speaking to Eurogroup members, Finance Minister Temenuzhka Petkova set out Bulgaria’s progress and reiterated the government’s expectation of adopting the euro on 1 January 2026. The planned request is framed as being made under Article 140 of the Treaty on the Functioning of the European Union and in line with a 2024 decision of the National Assembly, with Petkova pointing to preliminary assessments indicating Bulgaria expects to meet the nominal convergence criteria; Eurogroup countries reaffirmed their support for Bulgaria’s euro adoption ambition.
Ministry of Finance (Bulgaria) 2025-02-17
Bulgaria's Ministry of Finance to request extraordinary European Commission and European Central Bank convergence reports by end-February 2025
Bulgaria's Ministry of Finance will request extraordinary Convergence Reports from the European Commission and the European Central Bank by February 2025 for euro area accession. Finance Minister Temenuzhka Petkova highlighted Bulgaria's progress and aims to adopt the euro by 1 January 2026, with Eurogroup countries supporting this ambition. The request aligns with Article 140 of the Treaty on the Functioning of the European Union and a 2024 National Assembly decision.