EC ending is a major stage for Bulgaria, which will make the EU member’s 21 state, joining the Eurozone.
The European Commission has granted official permission to the introduction of Euros to Bulgaria. The country has fulfilled all the necessary conditions to move to a single currency in Europe from January 1, 2026. It was written by Bild on Wednesday, June 4.
The European Central Bank also noted that the Bulgaria economy was “prepared enough” for this step.
“Bulgaria is now approaching a step by the euro’s adoption. The country will take the right place to build major eurozone decisions,” said European Commission leader Ursula Von der Lyain.
ECB Philip Lane’s chief economist added that the government in Sofia has shown “great determination” to carry out the necessary reforms.
Earlier, the introduction of the euro was postponed due to high inflation in the country. Today, according to the European Commission, the average level of prices in Bulgaria last year was 2.7%, slightly lower than the allowable threshold.
If EU finance ministers approved the decision in July, Bulgaria would be a 21 -member Eurozone member – and the most difficult in terms of income.
Bulgaria’s national currency – Leo – has been tied to the euro since 2020 through a special currency mechanism.
Remember that European Central Bank leader Christine Lagarda said the Euro had the opportunity to be an alternative to the dollar if the eurozone strengthened financial and safe architecture.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.