(MENAFN) Bulgaria is set to adopt the euro on January 1, 2026, following confirmation that it has satisfied all the required conditions, according to the European Commission’s 2025 Convergence Report released on Wednesday.

This report, prepared upon the request of Bulgarian officials, verified that the nation meets the four key nominal convergence benchmarks necessary for euro adoption and that its legal framework is in line with EU regulations.

The European Commission described this development as "a critical and historic step on Bulgaria's journey towards euro adoption," emphasizing that the Bulgarian economy is adequately prepared for integration into the eurozone.

This milestone reflects Bulgaria’s progress toward deeper economic alignment with the European Union.

European Commission President Ursula von der Leyen expressed her support for the advancement, stating, "Today, Bulgaria is one step closer to its adoption as currency."

She highlighted the benefits of euro adoption for Bulgaria’s economy, including enhanced trade opportunities with euro area countries, increased foreign direct investment, improved access to financing, better quality employment, and higher real incomes.

Upon final approval by the EU Council, Bulgaria will become the 21st country to join the euro area.

Alongside the Commission’s report, the European Central Bank released a corresponding evaluation to support the decision-making process.

Bulgaria had officially requested this special Convergence Report in February 2025, initiating the formal assessment of its readiness for euro adoption.

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