site.btaAssociation of Banks in Bulgaria Wants to See Euro Changeover on January 1, 2026

In a position statement released on Monday, the Association of Banks in Bulgaria (ABB) expressed its categorical support for the country’s accession to the euro area on January 1, 2026, and hailed the lasting fulfillment of the price stability requirement for membership. Eurostat data about inflation in the member states in April 2025, released earlier in the day, confirmed the trend of substantial decrease of inflation in Bulgaria over the last few months. This proves beyond doubt that Bulgaria completely and lastingly meets the requirements for euro area membership, the ABB said.

It noted that Bulgaria has one of the lowest debt levels, which was 24.1% of the country’s GDP by the end of 2024, far below the EU’s average ratio of 81%. The government deficit is within 3%, and the long-term interest rate, which is important for assessing the degree of convergence, was 3.9294% as at the end of March. Bulgaria showed remarkable economic growth of 3.1% in the first quarter of 2025, putting the country among the fastest-growing EU economies.

The ABB is firmly convinced that a euro changeover in Bulgaria on January 1, 2026, will be the logical outcome of the consistent and concerted efforts of the government and the whole banking sector.

By adopting the euro, Bulgaria will move from having a currency board arrangement to participating in the EU’s currency union. The transition will help boost economic development, catalyze reforms and enhance social well-being, the statement says. Euro area accession will have a considerable positive impact on the Bulgarian economy both for individuals and businesses. They will feel the advantages associated with reduced transaction costs and an improved business environment. Domestic and foreign investment is expected to intensify, which will promote employment and will support economic growth. The country’s entry to the euro area will propel foreign trade and will facilitate the access of local companies to new markets. These processes will contribute to speeding up convergence with the other EU countries, the ABB predicted.

Bulgaria has been a member of the EU Single Supervisory Mechanism and Exchange Rate Mechanism II since 2020, which is why the national banking sector is already in the euro area to a large extent. Banks in Bulgaria are totally prepared to accept the euro as the new national currency, the ABB said.