Published by Global Banking & Finance Review®
Posted on May 13, 2025
1 min readLast updated: January 23, 2026
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The EU Commission will decide in June if Bulgaria meets the criteria to adopt the euro, requiring stable finances and a positive convergence report.
BRUSSELS (Reuters) - The European Commission will publish a report in early June on whether Bulgaria is ready to adopt the European Union's euro currency, European Economic Commissioner Valdis Dombrovskis said.
To switch from its lev currency to the euro, Bulgaria needs to meet EU criteria on low inflation, stable and sound public finances, a stable exchange rate and low long-term borrowing costs, as well as have an independent central bank.
To join the euro zone, which now has 20 out of the EU's 27 countries, Bulgaria has to get a positive opinion that it meets the criteria from the European Commission and the European Central Bank in what is called a convergence report.
"The Commission and the ECB continue to work on the preparation of the convergence report and it is foreseen we will finalise this work in early June," Dombrovskis told a press conference after a meeting of EU finance ministers.
(Reporting by Jan Strupczewski; Editing by Alex Richardson)
The main topic is Bulgaria's readiness to adopt the euro, pending a report from the EU Commission.
Bulgaria must have low inflation, stable finances, a stable exchange rate, and low borrowing costs.
The European Commission and the European Central Bank must approve through a convergence report.
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