Bulgaria Approved to Join Eurozone in 2026 Amid Inflation, Corruption Concerns

Bulgaria is set to adopt the euro on January 1, 2026, becoming the 21st member of the eurozone after receiving final approval from the European Central Bank and the European Commission. The country has met all the necessary economic and legal criteria, including inflation, fiscal deficit, and debt-to-GDP ratio, despite lingering concerns about corruption, judicial independence, and political challenges. The Bulgarian government and business sectors argue that euro adoption will boost the economy, tourism, and ease international trade, although there is domestic opposition from nationalist parties and protests fearing price hikes and loss of monetary sovereignty. The move is viewed by European officials as a strategic investment amid regional instability, particularly due to Russia's war in Ukraine, with the euro seen as a stabilizing factor. Approval from EU governments and the European Parliament is still required, but the path to accession appears largely secured. Bulgaria’s transition from the lev, pegged to the euro since 1999, marks a significant step in its integration into the EU economic framework.