During a conference titled “Introduction of the euro in Bulgaria – effects and practical aspects for business”, Finance Minister Temenuzhka Petkova assured the Franco-German business community that Bulgaria was fully prepared to adopt the euro from January 1, 2026. The event, hosted by the Franco-Bulgarian Chamber of Commerce and Industry and the German-Bulgarian Chamber of Commerce and Industry, took place at the French Cultural Institute in Sofia.
Petkova highlighted that Bulgaria was on the threshold of achieving a key strategic goal: membership in the eurozone. She emphasized that after overcoming a series of challenges over the years, Bulgaria had now met all four numerical criteria as of February, which allowed the country to request an extraordinary convergence report. The European Central Bank and the European Commission are expected to deliver their conclusions on June 4. Petkova expressed optimism for a positive evaluation, noting that all prerequisites were in place.
Addressing the ambassadors of France and Germany, Joel Meyer and Irene Maria Plank, Petkova expressed gratitude for the unwavering support from both countries’ finance ministers during this critical phase of Bulgaria’s euro journey. She stated her firm belief that joining the eurozone would bring significant benefits to Bulgaria, such as financial stability, increased investment, and deeper economic integration within the European Union.
Petkova also acknowledged that Bulgaria’s path to the euro mirrored the debates witnessed in Germany and France during their own euro adoption processes. She noted that public discourse in Bulgaria on the euro had reached a peak, underscoring the Bulgarian government’s recognition that success in adopting the euro hinged on the nation’s readiness. In this context, she confidently stated that Bulgaria’s government was fully prepared for the euro’s introduction from the start of 2026.
She detailed that Bulgaria had already enacted the necessary legislation for euro adoption, setting out all stages and timelines, while relevant by-laws across various economic sectors were also being updated. For those seeking detailed information, Petkova pointed to the official site evroto.bg, which offered comprehensive details on the procedures and upcoming changes.
Petkova emphasized the importance of thorough technical preparation, explaining that until September 30, all information systems within the state administration would be adapted to work with the euro. She noted the constructive partnership between the Bulgarian government, the Association of Bulgarian Banks and the Bulgarian National Bank, confirming that the banking system was fully ready for the changeover.
She did not shy away from addressing one of the biggest challenges: the need to counter disinformation and combat fears about the euro’s adoption. According to Petkova, the government is already engaged in a robust information campaign, which is set to intensify after the expected positive ECB and European Commission report on June 4.
Petkova expressed optimism that recent surveys showed a shift in public sentiment towards embracing the euro, fueling hope and confidence. She concluded by reiterating that Bulgaria was poised to introduce the euro on January 1, 2026, cementing the country’s place within the eurozone. (Novinite)