Bulgaria's Prime Minister Outlined the Steps Toward Euro Adoption by 2026

Bulgarian Prime Minister Rosen Zhelyazkov shared that the convergence report is expected to be released in early June. Following its publication, several steps will unfold as part of the process for assessing Bulgaria’s readiness to join the eurozone. Zhelyazkov highlighted that the country has submitted a request for an exceptional report, based on the belief that it meets the required convergence criteria.

The Prime Minister emphasized that the process will be lengthy, as the European Central Bank (ECB) and the European Commission will first evaluate Bulgaria’s compliance with the criteria. This will be followed by discussions in EcoFin, the Eurogroup, and the European Parliament. Zhelyazkov noted that if Bulgaria successfully meets the criteria, the remaining procedures will be relatively straightforward, marking a significant step towards adopting the euro by January 2026.

In terms of Bulgaria’s foreign policy, Zhelyazkov reaffirmed that the country will not send its military personnel to Ukraine. He also commented on a recent UN resolution regarding Ukraine’s territorial integrity, underlining Bulgaria’s stance on European solidarity. Zhelyazkov stressed that the war in Ukraine directly impacts the security framework of the European continent and reiterated that achieving a lasting peace requires considering the interests of Ukraine and Europe as a whole.

Additionally, the Prime Minister mentioned that experts are working to assess whether Bulgaria has fulfilled the convergence criteria. He pointed out that the assessment will involve multiple stages, but if the criteria are met, it will be a procedural matter. Zhelyazkov also emphasized the government’s commitment to addressing about 10% of Bulgaria’s shadow economy, which remains a key priority for his administration.

Sources:

• BNT
• Nova TV