site.btaEurogroup Recommends that Bulgaria Introduce the Euro on Jan 1, 2026

The Eurogroup on Thursday 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 finance ministers of the eurozone member states agreed with the positive assessments provided by the European Commission and the European Central Bank regarding Bulgaria's fulfilment of the convergence criteria in their Convergence Reports, the Eurogroup said in a press release. This marks the first step in a process through which the EU Council will adopt the necessary legal acts that will enable Bulgaria to become a member of the euro area and begin using the euro as its official currency as of next year.

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.