European Commission: Bulgaria on Track for Euro Adoption in 2026, but Challenges Remain

European Commissioner for Economy Valdis Dombrovskis has stated that Bulgaria's objective of joining the eurozone on January 1, 2026, remains realistic but emphasized that significant work remains to be done. Speaking in Brussels before the Eurogroup meeting of eurozone finance ministers, he reiterated that Bulgaria must fully meet the Maastricht criteria, particularly regarding inflation and fiscal policy.

Dombrovskis noted that inflation in Bulgaria is moving in the right direction, with data showing it is relatively close to the reference value. He stressed, however, that fiscal outcomes are also a crucial factor. The European Commission expects Bulgaria to present its medium-term fiscal structural plan in line with the new economic governance framework. The Commission stands ready to support Bulgaria in this process, but further preparations are necessary, he added.

The meeting of eurozone finance ministers has already commenced, with Bulgarian Finance Minister Temenuzhka Petkova presenting the country’s progress towards adopting the euro. During the discussions, Bulgaria’s commitment to meeting the necessary requirements was underlined, with a focus on ensuring macroeconomic stability and alignment with EU fiscal policies.

Dombrovskis' remarks reaffirmed the European Commission’s stance that Bulgaria's target date for joining the eurozone is achievable, provided that all necessary economic and fiscal conditions are met. He acknowledged the country's efforts so far but pointed out that continued progress is essential for successful accession.

Sources:

• BNR
• BNT
• Nova TV