In 2026, the Eurozone will expand to include its 21st member — Bulgaria is set to join the currency bloc. This was confirmed by representatives of the European Commission, citing the country’s compliance with key macroeconomic criteria, reports the Baltimore Chronicle with reference to Reuters.
The European Commission announced that Bulgaria has made sufficient progress in terms of price stability, budgetary discipline, and long-term interest rates. In addition, the country’s financial integration and participation in the ERM II exchange rate mechanism were assessed as satisfactory, paving the way for the adoption of the euro on January 1, 2026.
Bulgaria’s national currency, the lev, has long been pegged to the euro, and the country has been a participant in the ERM II mechanism since 2020. This step is a required precursor to full membership in the Eurozone.
European Central Bank President Christine Lagarde emphasized that the stability of the Bulgarian economy allows for a seamless expansion of the currency union without posing risks to its integrity. The ECB also released a favorable assessment of Bulgaria’s financial status in its official report.
With Bulgaria’s accession, the number of Eurozone member states will increase to 21. The last enlargement occurred in 2023, when Croatia adopted the euro.
Earlier we wrote that NBU explains when Ukraine can switch to the Euro.