The European Commission concluded that Bulgaria is ready to adopt the euro as of 1 January 2026 – a key milestone that would make it the twenty-first member state to join the euro area. This assessment is set out in the 2025 Convergence Report, prepared at the request of the Bulgarian authorities.
The report finds that Bulgaria fulfils the four nominal convergence criteria, which are intended to ensure that a country is ready to adopt the euro and that its economy is sufficiently prepared to do so. The member state’s legislation is also found to be compatible with the requirements of the Treaty and the Statute of the European System of Central Banks and of the European Central Bank (ECB).
The European Commission’s assessment considers additional factors relevant to economic integration and convergence, including balance of payments developments and the integration of product, labour and financial markets. This assessment is complemented by the ECB’s own Convergence Report.
Ursula von der Leyen, President of the European Commission said: “The euro is a tangible symbol of European strength and unity. Bulgaria is one step closer to its adoption as currency. Thanks to the euro, Bulgaria’s economy will become stronger, with more trade with euro area partners, foreign direct investment, access to finance, quality jobs and real incomes.”
As a result of this assessment, the Commission has also adopted proposals for a Council Regulation on euro introduction in Bulgaria on 1 January 2026. The Council of the EU will take the final decisions on Bulgaria’s euro adoption, following discussions in the Eurogroup and the European Council.
