EU Hopeful on Bulgaria’s Euro Bid

EU Commissioner for Economy and Productivity Valdis Dombrovskis expressed cautious optimism about Bulgaria joining the euro area in 2025. In a Sunday interview with bTV, he noted that Bulgaria met three of the four convergence criteria last year, with inflation being the final hurdle—currently at the borderline of acceptability, CE Report quotes BTA

Dombrovskis refrained from commenting on the Bulgarian President’s initiative for a 2026 euro referendum but confirmed that discussions on the matter were held during an ECOFIN meeting with Finance Minister Temenuzhka Petkova and Eurogroup President Paschal Donohoe. He emphasized that Bulgaria’s government and central bank are still committed to requesting a convergence report, which is expected to be finalized by early June.

Addressing public concerns, Dombrovskis drew on Latvia’s experience—where he led euro accession efforts—highlighting that the move brought economic stability and resilience amid the COVID-19 crisis and geopolitical shocks. He added that Bulgaria could similarly benefit from lower interest rates, reduced transaction costs, and improved financial sustainability. Public support, he said, tends to rise post-adoption as initial fears often prove unfounded.