The EU approved on the 4th for Bulgaria to adopt the euro starting from January 1, 2026.
This means Bulgaria will become the 21st member of the Eurozone.
The European Commission stated that Bulgaria has met the rigorous standards "aimed at ensuring that a country is prepared to adopt the euro and that its economy is sufficiently ready to do so."
Bulgaria still needs to obtain approval from the finance ministers of the EU member states, and it is expected that EU finance ministers will fully support Bulgaria's entry into the Eurozone in July, after which Bulgaria will officially join the Eurozone on January 1, 2026.
Bulgarian Prime Minister: A "Day of Great Significance"
Bulgarian Prime Minister Yeliyazkov said that the EU's approval of Bulgaria joining the Eurozone next year confirms the country's progress.
He stated on the social media platform X: "A day of great significance. Bulgaria has taken another step on the road to joining the Eurozone... This is the result of years of reform, commitment, and coordination with European partners."
Bulgaria joined the EU in 2007. With a population of 6.4 million, Bulgaria has been working for years on economic preparation in order to join the Eurozone.