Eurozone Ministers Recommend Bulgaria Adopt Euro in 2026

European Union finance ministers have formally supported Bulgaria's adoption of the euro, setting the country to become the 21st member of the eurozone on January 1, 2026. This decision follows positive assessments of Bulgaria's readiness by the European Commission and the European Central Bank, confirming that Bulgaria meets all necessary economic criteria, including inflation control and fiscal discipline. The exchange rate for converting the Bulgarian lev to the euro will be fixed in early July, allowing six months for technical preparations. Despite this milestone in eurozone expansion and Bulgaria's long-standing efforts since joining the EU in 2007, public skepticism remains high, with over half of Bulgarians opposing the currency switch due to concerns about rising prices. The move also aligns with broader trends of de-dollarization, emphasizing the euro's appeal as a stable regional currency. Bulgaria's accession will leave only six EU countries outside the eurozone, none of which have immediate plans to adopt the euro.