Bulgaria joins the ranks of the Eurozone's 21st member countries
Bulgaria to Join Eurozone on 1st January 2026
In a significant development, Bulgaria has been given the green light to adopt the euro as its official currency from 1st January 2026. This decision follows a thorough process and rigorous analysis, as confirmed by Danish Minister for Economic Affairs, Stephanie Lose.
The European Parliament has adopted a report confirming that Bulgaria fulfils the criteria for adopting the euro. This decision was further endorsed by the EU Council, which has adopted the final three legal acts required for Bulgaria to introduce the euro.
One of the key aspects of this transition is the establishment of a specific conversion rate. The Council has set the conversion rate between the euro and the Bulgarian lev at 1.95583 lev per €1. This conversion rate corresponds to the current central rate of the lev in the Exchange Rate Mechanism (ERM II) and is considered a self-contained fact.
The adoption of the euro by Bulgaria marks a significant milestone in the country's economic journey. The conversion rate is a crucial aspect of this process, ensuring a smooth transition for both businesses and individuals.
The Bulgarian government member who coordinated the preparations for the introduction of the euro in Bulgaria has not been explicitly named in the provided search results. However, it is clear that this process involved intensive preparation and rigorous analysis.
Stephanie Lose warmly congratulated Bulgaria and the Bulgarian people on this tremendous achievement, stating that this marks the culmination of a thorough process towards Bulgaria's accession. The most recent country to join the Euro area was Croatia in 2023, and Bulgaria will become the 21st member of the Euro area on 1st January 2026.
This decision is not only a testament to Bulgaria's economic stability but also a significant step towards further integration with the European Union. Bulgaria's adoption of the euro is expected to enhance its economic competitiveness and contribute to the broader economic stability of the Eurozone.
