site.btaPM Zhelyazkov Tells IMF Managing Director Euro’s Adoption Marks New Chapter for Bulgarian Economy

On the eve of the adoption of the euro, a new chapter awaits the Bulgarian economy—greater trust, more investments, more opportunities, stated Prime Minister Rosen Zhelyazkov during a meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF).

The Prime Minister recalled the decisive role of the IMF nearly three decades ago in the reforms carried out in Bulgaria. “Today, alongside our ambition to dispel people’s fears, we want to show them that the prospects for the Bulgarian economy and society with the effective introduction of the euro are much greater than those we had and successfully achieved with the introduction of the currency board,” Zhelyazkov pointed out. The Prime Minister was clear that the adoption of the euro on January 1, 2026, is a key government priority, and Bulgaria is now in the final stage of preparation for eurozone membership. We are working intensively on the remaining tasks, aiming to complete them as soon as possible, he noted.

During their discussion at the Council of Ministers, the Prime Minister highlighted the tremendous progress Bulgaria has made in all work areas during the preparation for joining the eurozone, including the public, financial, and non-financial sectors, with nearly all measures already implemented. Strategic documents related to the euro introduction, as well as key legislation, have been prepared and adopted. Technical preparations are also in place, ensuring that sectors such as banking are fully ready to adopt the euro. The intensive phase of the communication campaign about the euro is also about to begin.

Director Kristalina Georgieva described Bulgaria’s membership in the eurozone as an excellent opportunity and emphasized several benefits for the country. First, she stressed the higher investment attractiveness Bulgaria will have, which is important for all sectors, especially tourism. Secondly, she pointed out the increased protection the country will have within the eurozone. Thirdly, Georgieva highlighted Europe’s chance to take on a stronger leadership role in the global economy and the opportunities that this presents for Bulgaria.

During the meeting, Zhelyazkov and Georgieva also discussed the risks to the global economy and financial stability. In this context, Zhelyazkov welcomed the IMF leadership’s efforts, and Georgieva’s personally, to ease the economic difficulties faced by member countries, especially the poorest and most vulnerable. "The world we live in is full of challenges, with globally low growth and high debt," Georgieva noted. According to her, the only way out of this situation is not to take on more debt but to achieve higher growth, increased productivity, and better business conditions to drive the economy forward, the statement adds.

In this more risky world, it is even more important for Bulgaria to be in the eurozone, said the IMF Managing Director in an interview with BTA in April.