Finance Minister: Bulgaria will not adopt the euro in January 2024

Bulgaria will not join the euro zone on 1 January 2024, caretaker Finance Minister Rositsa Velkova said on February 17.

The reason is that four laws related to its eurozone membership have not been adopted by the regular Parliament. Only three laws have passed at first reading at committees.

Also, Bulgaria will not present a regular convergence report in February. Exploratory talks have been made and the country will be able to do so when it meets the criteria. In addition, there should be a stable fiscal outlook - the budget deficit should be below 3% by 2026.

In practice, Bulgaria has not met all the criteria under the ERM II. The date 1 July, 2024 is possible, but it all depends on when the country will meet the criteria.