Government Decided to Request Convergence Report on Bulgaria's Readiness to Join the Eurozone

At its meeting today, February 24, the government approved a Decision to submit a request to the European Commission and the European Central Bank for the preparation of extraordinary convergence reports for Bulgaria, the press office of the Council of Ministers announaced.

• Minister of Finance: Bulgaria Meets the Last Criterion for the Eurozone, There is Grounds to Request Convergence Report

The decision follows the publication of data on February 24, 2025, by Eurostat regarding inflation in EU countries. According to this data, the reference value for the price stability criterion for January 2025 is calculated at 2.6%. Inflation in Bulgaria for the same period is also 2.6%, which means that, based on the data for January this year, the country meets the last criterion for Eurozone membership.

With this decision, the Council of Ministers authorizes the Minister of Finance and proposes to the Governor of the Bulgarian National Bank to sign a letter containing a request for the preparation of extraordinary convergence reports and send it to the President of the European Commission and the President of the European Central Bank.

The decision is made in fulfillment of the National Assembly’s decision from July 26, 2024, to accelerate and complete the process of practical preparation for the adoption of the euro in the Republic of Bulgaria and in accordance with Article 140, paragraph 1 of the Treaty on the Functioning of the European Union, for the preparation of extraordinary convergence reports by the European Commission and the European Central Bank.