24 June 2026

• Biennial report assesses progress towards euro adoption in Czech Republic, Hungary, Poland, Romania and Sweden
• Countries under review show economic resilience to external shocks but still face obstacles on road to euro adoption
• Mixed inflation trends, with fiscal situation deteriorating in most countries
• Legislation in all five countries not fully compatible with legal requirements for euro adoption

Limited progress has been made by the non-euro area Member States of the European Union (EU) on economic convergence with the euro area since 2024, according to the 2026 Convergence Report of the European Central Bank (ECB) published today. A key factor holding back economic convergence is the economic impact of external shocks, including Russia’s war against Ukraine, global trade tensions and the outbreak of the war in the Middle East.

Despite these external challenges, economic activity in the countries under review has shown resilience, but the pace of growth has differed…