Finance Deputy Minister: Credit Upgrades Reflect Trust in Bulgaria’s Stability and Eurozone Path

Deputy Finance Minister Metodi Metodiev described the recent upgrades to Bulgaria’s credit rating by three international agencies as a clear sign of growing investor confidence and validation that the country is on the right path. Speaking to the Bulgarian National Radio, Metodiev noted that the rating hikes coincided with a landmark decision from Brussels earlier this month, confirming that Bulgaria will adopt the euro as of January 1, 2026.

Scope Ratings assigned Bulgaria a rating of A- in both local and foreign currency, placing the country for the first time in the highest tier of investment-grade ratings. Standard & Poor's and Fitch Ratings followed with similar positive revisions. According to Metodiev, these developments reflect confidence not only in the Bulgarian economy but also in the political environment and institutional stability.

"This marks another important moment among several recent milestones," Metodiev said, pointing to the July 8 adoption of the legal framework enabling Bulgaria’s entry into the eurozone. "This is a signal of trust - both in the country's direction and in its public finances. The rating actions stem from the decisions made in Brussels and are a continuation of the irreversible integration process with developed democratic countries."

Metodiev explained that preparations for the euro transition are progressing along two key tracks. One involves the completion of technical arrangements by Bulgarian institutions. The second focuses on the Bulgarian National Bank and the commercial banking sector, which are making internal adjustments to prepare for the changeover.

A central component of the transition, Metodiev said, is the national information and communication campaign. “We will visit 100 cities across all 28 regions,” he stated, underscoring the campaign’s significance in familiarizing citizens with the upcoming currency change.

He added that from January 1, 2026, all financial and accounting documentation will be processed in euros. During a six-month transition period, citizens will be able to convert their lev savings to euros free of charge at banks, the Bulgarian National Bank, and branches of Bulgarian Posts.

Metodiev also addressed concerns about dual pricing and how businesses might exploit flexibility in labeling during the transition. He called for responsible behavior and warned that if irregularities begin to surface frequently, the government is prepared to respond, including through potential legislative amendments.

"The executive branch is actively monitoring the process. If it becomes apparent that some are using the flexibility to mislead or disadvantage consumers, we won’t hesitate to act," Metodiev stated.

Source: BNR interview