Bulgaria received a final “yes” to the euro

Today, July 8, Bulgaria received a final and irreversible “yes” from the European institutions to adopt the euro as its national currency. This happened after a vote in the European Parliament in Strasbourg and the final decision of the EU Council during the ECOFIN meeting in Brussels.

Thus, the legal formalities for the admission of our country to the single currency union are already considered fulfilled. Or as Finance Minister Temenuzhka Petkova said – the entire process related to Bulgaria’s membership in the eurozone has ended today.

A day earlier, at a meeting of the Eurogroup, the decision on the lev-euro exchange rate with which the country will join the eurozone was reaffirmed – 1.95583 leva for 1 euro.

So it is now official – on January 1, 2026, Bulgaria will become the 21st member of the single currency union. The event is historic – it will determine the economic, but also the foreign policy orientation of the country from now on. Bulgaria will exit the restrictive currency board regime introduced in 1997 and will become part of the ECB’s common policies and decisions for the entire eurozone. By entering the single monetary union, the country formally completed its path to full European integration, with all the benefits and obligations that come with it.

Legal formalities

On Tuesday, MEPs gave a positive opinion on Bulgaria’s candidacy to join the eurozone on January 1, 2026. With 531 votes “for”, 69 “against” and 79 “abstains”. The Parliament adopted a report confirming that our country meets the criteria.

Around the same time, the meeting of the Economic and Financial Affairs Council (ECOFIN) began, at which ministers from the 27 countries voted on three legislative acts:

Decision on the adoption of the euro by Bulgaria on January 1, 2026 In practice, this is a decision to end the derogation (exception) used by Bulgaria until it is approved that it has met the criteria for the euro area.
Council Regulation adding Bulgaria to the list of euro area Member States.
Council Regulation establishing the exchange rate of the Bulgarian lev to the euro.

These decisions are irreversible – after them, the only task of the institutions will be to prepare the processes for the smooth adoption of the single currency. Bulgaria was officially welcomed as the 21st member of the euro area from the beginning of 2026.

“Joining the eurozone is not just a technical act – it is a strategic choice that brings stability, trust and access to powerful financial and economic resources. This means fewer barriers to business, lower transaction costs and deeper penetration of the Bulgarian economy into European production and market networks. If we manage to use these opportunities with reason and vision – focused on productivity, human potential and working institutions – Bulgaria has not just a chance, but a real historical perspective to become a rich European country, by the standards of the eurozone itself”, said BNB Governor Dimitar Radev to BTA.

For an easier transition of your systems to the euro, you can contact FTS Bulgaria for more information. Contact us today.

Source: Capital

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