Bulgaria to Take Part in European Central Bank Decisions, Says Deputy Foreign Minister Pavlov

As a full member of the eurozone, Bulgaria will take part in decision-making and policy formation at the European Central Bank and the financial institutions of the monetary union, Deputy Foreign Minister Nikolay Pavlov said on January 8.

He was speaking at a discussion on the priorities of the Cypriot Presidency of the Council of the European Union, which began on 1 January 2026.

According to Mr Pavlov, eurozone membership will help guarantee Bulgaria’s financial stability and prosperity, while allowing the country to contribute to the wider European financial project.

He noted that the start of the Cypriot presidency coincides with a key milestone for Bulgaria — the country’s transition to the single European currency.

“This is our strategic choice, which reinforces Bulgaria’s place at the heart of a united and strong Europe,” he said.

Against the backdrop of a changing global political environment, Mr Pavlov said that strengthening cooperation and introducing measures in the fields of defence and security at EU level were emerging as shared goals. Bulgaria supports the priorities of the Cypriot presidency in these areas, he added.

He also welcomed the presidency’s vision for building a strong European defence industry, describing it as a crucial factor in meeting strategic needs and ensuring security in Europe.

“We share the view that greater efforts are needed to increase defence spending and boost investment in the European defence industry,” Mr Pavlov said.

Russia’s aggression against Ukraine should remain among the EU’s top priorities, he stressed. Support for a diplomatic solution that preserves Ukraine’s independence, sovereignty and territorial integrity is of paramount importance, he added, underlining the need to maintain EU unity and ensure the bloc’s involvement in negotiations on issues that affect it directly.

Referring to the stabilising and transformative role of EU enlargement policy, Mr Pavlov welcomed the Cypriot presidency’s commitment to upholding the principle of own merist and the established methodology of the enlargement process.

On North Macedonia, he said Bulgaria’s position remains clear and consistent.
“Bulgaria remains committed to the European consensus of July 2022 and has no additional conditions beyond the strict implementation of all its aspects,” Mr Pavlov concluded.

Source: BTA