Bulgaria will make a formal request to the European Commission and the European Central Bank to prepare extraordinary convergence reports by the end of February, the finance ministry said.

Today, the Bulgarian finance minister presented to the Eurogroup members Bulgaria's progress on the country's preparations to join the euro area.

 Minister Petkova said that with its prudent fiscal policy Bulgaria has long deserved its euro area membership, so we expect this to happen on 1 January 2026. The Bulgarian Finance Minister underlined that the preliminary assessments give us confidence that we will meet all the nominal convergence criteria.

In view of this, and in line with the 2024 decision of the National Assembly, based on Article 140 of the Treaty on the Functioning of the EU, Bulgaria will make a formal request to the European Commission and the European Central Bank for the preparation of extraordinary Convergence Reports by the end of February 2025.

 The Eurogroup countries reaffirmed their continued support for Bulgaria's ambition to adopt the euro. | BGNES