4 June 2025

• ECB report assesses Bulgaria’s progress towards Economic and Monetary Union
• Positive assessment with respect to possible euro adoption on 1 January 2026

Bulgaria has made good progress towards economic convergence with the euro area since 2024, according to the Convergence Report of the European Central Bank (ECB) published today.

“This positive assessment of convergence paves the way for Bulgaria to introduce the euro as of 1 January 2026 and become the 21st EU Member State to join the euro area,” said Philip R. Lane, Member of the ECB Executive Board. “I wish to congratulate Bulgaria on its tremendous dedication to making the adjustments needed.”

According to the ECB’s assessment, Bulgaria is within the reference values of the convergence criteria and complies with the legal requirements. Having participated in the exchange rate mechanism (ERM II) and the banking union since 10 July 2020, Bulgaria has made another step towards European integration under…