Bulgaria will become a member of the European Union on January 1, 2026, following a rigorous process that culminated in the approval of the Eurozone’s Economy and Finance Ministers.

With this decision, the country becomes the 21st member of the Eurozone, according to Danish Economy Minister Stephanie Lose, whose country holds the rotating EU presidency.

The announcement of this decision was made last June, indicating that Bulgaria “had met the strict conditions for adopting the euro, and the European Central Bank (ECB) also gave a positive opinion.”

The country has gone through a path fraught with opposition to its eurozone entry, as well as seven electoral processes in three years, the last in October 2024.

With its entry into the EU, Bulgaria will adopt the euro as its currency after “demonstrating that its economy has converged with that of other eurozone countries and that its finances are under control.” Other conditions it must meet include keeping inflation no more than 1.5 percentage points above the rate of the three best-performing EU countries, and its monetary policy must be transferred to the ECB.

M.Pino

Source: swissinfo

(Reference image source: Neven Myst on Unsplash)

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