Bulgaria's newly elected government, headed by Prime Minister Rosen Zhelyazkov, is abandoning its plan to join the eurozone on January 1, 2026, Finance Minister Temenuzhka Petkova has said.
Zhelyazkov set two key priorities for his government - the adoption of the budget for 2025 and the request for a convergence report that would give the green light to the transition to the euro from the beginning of next year.
However, Petkova said that, according to government estimates, Bulgaria still does not meet the criterion of price stability, as the latest data from Eurostat show that inflation in the country is 0.1 percentage points higher than required. The current average inflation in Bulgaria is 2.6% versus 2.5% required to meet the price stability criterion.
Petkova stated that the difference is small, but it is a fact, and that as soon as the country meets this criterion, Parliament will oblige her to submit a request for convergence reports within fourteen days.
Source: Euroaktiv
