EU Recommends Bulgaria for Eurozone Entry
(MENAFN) On Thursday, nations within the euro area put forward a recommendation for Bulgaria to become the 21st country in the eurozone, aiming for January 2026 as the target date for euro integration.
The Ecofin Council of the European Union is scheduled to cast votes on the legal measures concerning this entry on June 20, which will require a qualified majority, according to a statement from the European Council.
“This is a crucial step for Bulgaria’s euro adoption in 2026,” stated Eurogroup President Paschal Donohoe.
Bulgaria, part of the European Union since 2007, has fulfilled the economic alignment standards, such as maintaining moderate inflation and sound budgetary management, the Council indicated.
The Bulgarian lev, tied to the euro since 1999, continues to show monetary stability.
The European Commission highlighted the nation’s 2.7 percent inflation level and 24.1 percent debt-to-GDP ratio, both of which fall well beneath the EU’s prescribed ceilings.
The European Central Bank previously acknowledged the country’s steady exchange rate and 3.9 percent interest rate, while also emphasizing the necessity for continued structural reforms.
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