The Commission welcomes the Council’s decision to approve Bulgaria’s accession to the euro area on 1 January 2026, making it the twenty-first Member State to join the single currency. This landmark decision follows the Commission’s 2025 Convergence Report of 4 June which concluded that Bulgaria had successfully met the convergence criteria to join the euro area, an assessment complemented by the European Central Bank’s Convergence Report published the same day.
The Council also set the official conversion rate today, paving the way for a seamless transition from the lev to the euro.
Joining the euro area will bring tangible benefits to Bulgarian citizens and businesses: no more currency exchange costs, easier cross-border payments, increased price transparency, and better access to finance. It will also contribute to boosting trade, investment, and job creation, while granting Bulgaria a more prominent role within the euro area’s decision-making structures like the ECB and the Eurogroup.
The euro will make it easier for Bulgarians to travel, work, and do business across the euro area, reflecting the country’s commitment to a united and prosperous European Union.
Valdis Dombrovskis, Commissioner for Economy and Productivity Implementation and Simplification, said: “The euro brings a positive impact on growth thanks to full integration into the EU’s single market, where Bulgaria’s goods and services will become more competitive. In the longer run, the euro brings more stable prices and increases the resilience of the economy in the face of sudden shocks.”
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