site.bta EU Finance Ministers Unanimously Back Bulgaria's Euro Adoption as of January 1, 2026

The EU Economic and Financial Affairs Council (ECOFIN) expressed its support for Bulgaria's euro area accession as of January 1, 2026, EU Economy and Productivity Commissioner Valdis Dombrovskis said at the ECOFIN press conference in Luxembourg on Friday.

“I welcome today's ECOFIN decision supporting Bulgaria's euro accession as of January 1st, 2026. This is indeed a major milestone. So, now, this will pass for discussions to the European Council and then come back to the ECOFIN for a final decision at the July ECOFIN,” Dombrovskis said after the ministers' meeting.

Polish Finance Minister Andrzej Domanski, who chaired Friday's meeting on behalf of the Polish Presidency of the Council of the European Union, specified that the finance ministers adopted their decision unanimously.

ECOFIN is composed of the economics and finance ministers of the 27 EU Member States, as well as budget ministers when budgetary issues are discussed. The Council is responsible for EU policy in economic policy, taxation issues, and the regulation of financial services.

The Eurogroup on Thursday night endorsed a recommendation from euro area member states to the Council of the EU that Bulgaria should introduce the euro on January 1, 2026. 

The recommendation is set to be adopted by the ECOFIN Council (by a qualified majority vote of the euro area member states) at its meeting on June 20. It is expected to endorse a letter to the European Council. The European Council will discuss the matter at its meeting on June 26-27.

The process will conclude on July 8 with the European Parliament's vote on its opinion and the adoption of the final decisions by the Council of the EU.