Description
On 8 July, the European Council decided to approve Bulgaria's accession to the eurozone as of 1 January 2026, making it the 21st Member State to join the single currency. This historic decision follows the Commission's Convergence Report 2025 of 4 June, which concluded that Bulgaria has fully met the convergence criteria for joining the eurozone. This assessment is complemented by the European Central Bank's convergence report, published the same day.
The Council also set the official conversion rate at 1.95583 lev per €1, paving the way for a seamless transition from lev to euro.
Eurozone membership will bring tangible benefits to Bulgarian citizens and businesses: elimination of currency exchange costs, easier cross-border payments, greater price transparency and better access to finance. It will also help stimulate trade, investment and job creation, while giving Bulgaria a greater role in eurozone decision-making structures, such as the ECB and the Eurogroup.
For Bulgarian citizens, the euro will make it much easier to travel, work and trade, reflecting the country's commitment to a united and prosperous European Union.
Source and image: European Commission Representation in Italy