site.btaEuropean Council Welcomes Bulgaria's Progress on Adopting Euro

The General Secretariat of the European Council (EC) released a statement after the Euro Summit on Friday, which welcomed the progress achieved by Bulgaria on its way towards adopting the euro. The EC encourages the continued efforts towards meeting all the convergence criteria.

Bulgaria expects an assessment in June 2024 on whether it meets the conditions for the introduction of the single currency. On March 15, 2024, Finance Minister Assen Vassilev said: "At present, we expect this [getting the average inflation rate below the target] to happen some time between June and September." He added that the agreement with EC is to have an additional convergence report drawn as soon as this happens, which should allow Bulgaria to join the euro area in 2025.