site.btaEconomy and Industry Minister: Bulgaria Will Get Richer when It Joins Euro Area

Bulgaria’s accession to the euro area will have a positive impact on the economy, citizens, businesses, and the country as a whole, Economy and Industry Minister Peter Dilov said in an interview with Bulgarian National Television on Sunday.

If Bulgaria joins the euro area on January 1, 2026, this country will wake up some BGN 2 billion richer, Dilov said. He added that the euro changeover would eliminate annual losses of some BGN 1 billion caused by currency conversion.

The Minister noted that nearly half a million small and medium-sized enterprises in Bulgaria currently maintain accounts in both currencies. Abandoning this practice would save them money, he said. 

Bulgaria’s credit rating is expected to improve once the country becomes a member of the euro area, the Minister noted.

Dilov also said that the business community recognizes the benefits that would come with Bulgaria’s euro adoption and strongly supports it.

Asked about potential investment opportunities, Dilov spoke about continued interest in high-tech sectors, thanks to this country’s skilled workforce. He also expects growth in defense industry investments.

Bulgaria will not be directly affected by the tariffs imposed by the US due to the low volume of trade and exports, he said. In Dilov’s words, 64% of Bulgarian exports are directed to EU member states. “We can expect indirect effects that could arise from supply chain restructuring,” he said. “The data that we have indicates that despite the introduction of import tariffs, the products that Bulgaria exports remain competitive because other Member States are also affected by the tariffs,“ Minister Dilov said.