The European Central Bank (ECB) says Bulgaria is ready to join the eurozone and start using the euro on January 1, 2026. The ECB’s report published today shows Bulgaria meets all the economic requirements needed to become the 21st EU country to adopt the single currency.
Philip R. Lane from the ECB said Bulgaria has done well in making the changes needed for euro adoption. The country has been working toward this goal since July 2020, when it joined the exchange rate mechanism that keeps its currency stable against the euro.
Bulgaria passed the key economic tests. Its inflation rate was 2.7% over the past year, under the 2.8% limit. The country’s budget deficit was 3.0% of GDP in 2024, meeting the 3% requirement, and its national debt of 24.1% of GDP stays far below the 60% ceiling. Bulgaria’s borrowing costs also stayed low, averaging 3.9% compared to the 5.1% limit.
The Bulgarian lev has stayed steady against the euro for the required two years, and the country’s laws match EU rules. Bulgaria has completed most of its commitments for eurozone membership but still needs to improve its anti-money laundering systems.
Once Bulgaria adopts the euro, it will join 20 other EU countries that already use the currency. The ECB will publish its next regular report on eurozone readiness in 2026.
