May 2023 / Bulgaria

May 5 2023

Bulgaria Prepares to Adopt Euro on 1 January 2025 at the Latest

Bulgaria is making efforts to be ready for euro adoption no later than 1 January 2025. Our country’s preparation and progress in this respect were discussed during the meetings of the Minister of Finance Rositza Velkova with  the Eurogroup President Paschal Donohoe and with the Executive Vice President of the European Commission Valdis Dombrovskis during the ECOFIN meeting held on 27 and 28 April 2023. They also discussed the issue of curbing inflation and the measures that are being taken by the government in this regard, as well as the expectations for the budget deficit. These talks were already announced by the MoF press office.

In relation to some speculations that appeared on the media about the process of the country’s accession to the euro area, the Ministry of Finance states firmly that the topic of postponing the introduction of the euro in Bulgaria beyond 1 January 2025 was not raised during those meetings.

Euro area membership is Bulgaria’s priority. The state continues working actively both in technical and legislative terms on the preparation for adopting the single European currency.

The Ministry of Finance regards the dissemination of fake news and contradictory messages in the media, especially those with good reputation in the public space, as unacceptable. Any information about the official meetings of the minister of finance is provided in a timely manner by the Ministry’s press office via the official channels.

Source: Republic of Bulgaria - Ministry of Finance