Is Bulgaria Ready to Join the Eurozone? We'll Find Out Today

The European Central Bank (ECB) is expected to inform Bulgaria today that the country is not ready to join the Eurozone at the beginning of 2025, according to Politico. At noon, the European Commission will release reports on the convergence of EU member states planning to adopt the single currency.

Bulgaria is currently struggling to meet the inflation benchmark necessary for Eurozone entry. Earlier this year, Paschal Donohoe, president of the Eurogroup, suggested that Bulgaria might introduce the euro later in 2025. However, experts believe that January 1, 2026, is a more likely date due to the technical difficulties of switching currencies mid-year.

Meanwhile, the caretaker government will discuss and vote today on a draft law regarding the introduction of the euro, as reported by BTA. This is included in the agenda of the regular weekly meeting. The bill aims to regulate the process of adopting the euro in Bulgaria. After government approval, it will be submitted to the National Assembly for discussion.