site.btaFinance Minister: Bulgaria Has Met All Convergence Criteria Honestly and Honourably, Will Take Its Rightful Place in Euro Area

Speaking on Nova TV on Sunday, Finance Minister Temenuzhka Petkova said that Bulgaria has met all the necessary criteria to join the euro area “honestly and honourably” and will “take its rightful place” as a member as of January 1, 2026.

Describing Bulgaria’s euro area accession as a “historic“ moment for the country, Petkova added that it is a strategic national goal that has now been achieved. She noted that the most important step toward this goal was taken in July 2020, when the government of then-Prime Minister Boyko Borissov, along with Finance Minister Vladislav Goranov, “did everything necessary so Bulgaria can enter the euro area waiting room."

Asked whether any compromises were made because Bulgaria is currently on the Financial Action Task Force grey list, Petkova said: “No one made concessions for Bulgaria. Bulgaria met all the criteria required for euro area membership.” She noted that Bulgaria has been on the grey list since October 2023, adding that the government is working hard to get this country off the list as soon as possible. “We have set clear targets in this regard. They must be met, and we will meet them. But I strongly disagree with the notion that Bulgaria received any special treatment,” she added.

Petkova also stressed the need for Bulgaria to maintain strict fiscal discipline, noting that this includes compliance with the Maastricht criteria and the Public Finance Act. “At the micro level, this country’s public finances must stay within clearly defined parameters,” she said.

The minister said that by September 30, 2025, Bulgaria’s public administration must fully adapt its systems to accommodate the euro. “I dare to say that Bulgaria is ready to adopt the euro from January 1, 2026,” Petkova noted.