EU Approves Bulgaria’s Eurozone Entry from 2026
EU finance ministers have approved Bulgaria's eurozone entry, setting January 1, 2026, as the official adoption date. Despite meeting key criteria, public opinion remains divided amid inflation fears and political instability. Bulgaria will become the 21st eurozone member.
By Kamaran Aziz
ERBIL (Kurdistan 24) — European Union finance ministers on Tuesday officially approved Bulgaria’s accession to the eurozone, setting Jan. 1, 2026, as the date for the southeastern European country to adopt the euro currency, according to Raidió Teilifís Éireann (RTE) and Agence France-Presse (AFP).
"This marks the culmination of a thorough process towards Bulgaria's accession, comprising rigorous analysis and intensive preparation," stated Stephanie Lose, Denmark’s economy minister, whose country currently holds the rotating presidency of the EU.
The decision comes after both the European Commission and the European Central Bank (ECB) confirmed last month that Bulgaria, the EU’s poorest member state, had met the necessary economic and monetary criteria to join the single currency bloc. ECB chief Christine Lagarde has also voiced support for strengthening the euro’s international role, saying in May that it could reduce borrowing costs for EU member states and improve economic stability.
Bulgaria’s transition from the lev to the euro will occur exactly 19 years after the country joined the European Union in 2007. Despite the long-standing ambition to join the eurozone, Bulgaria’s path has not been smooth. The nation has experienced seven elections in just three years, the most recent in October 2024, creating a backdrop of political turbulence.
Public sentiment, meanwhile, remains divided. As detailed by RTE, while proponents argue that euro adoption will boost economic performance and bring long-term benefits to citizens, many Bulgarians fear it will lead to increased living costs. Protests erupted both before and after the European Commission’s decision in June, and surveys suggest nearly half of those polled oppose the transition to the euro.
Previously, Bulgaria’s entry had been delayed due to inflationary concerns. RTE wrote that under EU convergence rules, candidate countries must keep inflation within 1.5 percentage points of the average rate in the three best-performing EU states. When Brussels gave its final approval in June, it reported that Bulgaria’s average inflation over the 12 months to April 2025 was 2.7%, just below the reference threshold.
The eurozone, which began with 12 countries in 2002—including France, Germany, Ireland, and Italy—has gradually expanded. Slovenia joined in 2007, followed by Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014, Lithuania in 2015, and most recently Croatia in 2023, bringing the total to 20. Bulgaria’s addition in 2026 will make it the 21st member of the single currency area.
The approval comes at a time when the euro is gaining strength against the US dollar, amid rising global uncertainty and concerns over U.S. trade policy under President Donald Trump. With Bulgaria’s entry, the EU deepens its financial integration even as public opinion within some member states continues to question the currency union’s broader impacts.
