Bulgaria is on track to adopt the euro by January 1, 2026, as it meets key Maastricht criteria, including inflation stabilization, a low debt-to-GDP ratio, and a manageable budget deficit. Economic experts highlight ongoing preparations despite political challenges, with inflation consistently below 3% and other macroeconomic indicators aligning with eurozone requirements. If euro adoption is not achieved in mid-2025, early 2026 remains a viable target for full integration into the EU's monetary framework.
Will Bulgaria adopt the euro by January 2026?
Public
Bulgaria
Author: Nikolina Basić
Category:
Fiscal subject related
Views:
418
Content accuracy validation date:
17.01.2025
Content accuracy validation time:
08:48h
Economic experts in Bulgaria, mostly based in the Institute for Market Economics, stated in an interview with Bulgarian National Radio that it is highly likely Bulgarians will begin making payments in euros starting from January 1, 2026, despite the political turmoil in the country. They emphasized that the economy is expected to meet the necessary criteria within a few days, predicting that the country's average annual inflation will be around 2.5-2.6%.
Although the legal framework is still being worked out, it has been noted that Bulgaria is already effectively operating in a transitional phase, and payments in euros are being made without negatively impacting specific social groups. At present, they acknowledged that the Ministry of Finance is working hard to manage these complexities, despite the pressure on the national budget.
Also, Bulgaria is currently meeting the Maastricht criteria required for eurozone membership, with its macroeconomic indicators indicating a stable path toward adopting the euro by 2024. According to data from Eurostat, inflation in Bulgaria has remained consistently below 3% for several consecutive months, fulfilling one of the key conditions for joining the single currency. From June to November 2024, inflation was 2.8% in June and July, then decreased to 2.4% in August, 1.5% in September, and finally stabilized at 2% in October and November. This is a notable improvement from November 2023, when inflation stood at 5.5%.
Additionally, Bulgaria's budget deficit is expected to stay within the 3% limit required for eurozone entry, while unemployment remains at historically low levels around 4%. The country’s debt-to-GDP ratio is also well below the necessary threshold, currently almost half of the 60% criterion.
Therefore, given these favorable conditions, many economists believe that Bulgaria is on track for euro adoption in the near future. If it does not join the eurozone in mid-2025, the next opportunity is expected in early 2026. Economic analysts argue that any delay would undermine the national interest and Bulgaria’s goal of completing its full integration into the European Union. Adopting the euro is seen as a crucial step in this process.
Other news from Bulgaria
Slovenia: EU Targets Unsafe E-Commerce Imports with New Measures
Public
Author: Ivana Picajkić
The European Commission is tightening regulations on e-commerce imports to address the surge of unsafe and counterfeit goods, particularly from China, by reforming customs rules and increasing product safety checks. Key measures include removing the duty exemption for low-value parcels, introducing a potential customs fee, establishing priority control areas, and launching an EU-wide product safet... Read more
New document was uploaded: S4F backoffice patch
Author: Kristina Dosen
S4F backoffice patch is intended for users who have already installed S4F backoffice and are intended to update existing installations to latest version. To do so apply only patches that are marked with version number that is newer than your currently installed instance of backoffice. Read more
New document was uploaded: S4F backoffice installer
Author: Kristina Dosen
S4F backoffice installer is intended for users who are installing the software for the first time. Please make sure to obtain latest version of installer and to apply all subsequent patches that are released subsequently. This package contains instruction, release notes, changelog and software packages required for deployment of this software component. This version of the Backoffice installer supports the following countries: Austria, Bulgaria, Croatia, France, Italy, Poland, Portugal, Romania, Slovakia and Slovenia. Read more
National Revenue Agency of Bulgaria: new version of a software product for generating VAT reports and similar documents
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
The Bulgarian National Revenue Agency has released a new version of its software for generating VAT reports, returns, and VIES declarations, including an installation package for Windows users. The update aims to simplify VAT reporting, and a comprehensive user guide is available to help users navigate the new features. The Bulgarian National Revenue Agency published the latest update regarding a... Read more
Bulgaria Prepares for Eurozone Entry by January 1, 2026, Amid Ongoing Challenges
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
Critics highlight insufficient public communication about Bulgaria's planned euro adoption, leaving many citizens unaware of its practical benefits. With the new target date of January 1, 2026, approaching, the government faces pressure to launch an effective campaign and better prepare the public for the transition. Bulgaria is set to join the Eurozone on January 1, 2026, according to an analysis... Read more
New document was uploaded: S4F backoffice patch
Author: Kristina Dosen
S4F backoffice patch is intended for users who have already installed S4F backoffice and are intended to update existing installations to latest version. To do so apply only patches that are marked with version number that is newer than your currently installed instance of backoffice. Read more