The European Central Bank has confirmed that Bulgaria now meets all criteria to adopt the euro, setting the stage for the country to join the eurozone on January 1, 2026, pending final approval from EU finance ministers.
Bulgaria is set to become the 21st member of the eurozone after the European Central Bank announced the country meets all necessary conditions to adopt the euro from January 1, 2026.
“This positive assessment of convergence paves the way for Bulgaria to introduce the euro,” said ECB Chief Economist Philip Lane.
The final decision will rest with EU finance ministers, expected to approve the move in early July. Following this, Bulgarian central bank officials will begin participating in ECB meetings as observers before formal accession.
While Bulgaria had previously struggled with inflation requirements, this time it just passed, with a 12-month inflation rate of 2.7% - slightly under the 2.8% reference value.
Though inflation is expected to rise to 3.6% in 2025, the European Commission forecasts a drop below 2% by 2026, aligning with eurozone standards.
Bulgaria’s euro entry will mark a major milestone in its EU integration, following years of effort and gradual economic alignment with the bloc.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 2nd of January, covering the latest developments you need to know.
Democrat Zohran Mamdani officially took office as New York City’s mayor on Thursday, beginning his term with a public swearing-in ceremony on the steps of City Hall.
Russia and Ukraine have accused each other of targeting civilians during New Year attacks, as intensified fighting coincided with U.S.-led efforts to push both sides towards ending the nearly four-year war.
Dozens of people are feared dead and around 100 others injured after an explosion tore through a crowded bar during New Year’s Eve celebrations at the Swiss ski resort of Crans-Montana, authorities said.
At least 47 people were killed and 112 injured after a fire broke out at a crowded bar in the Swiss ski resort town of Crans-Montana during New Year’s Eve celebrations, Italian Foreign Minister Antonio Tajani told Italian media on Thursday.
India has approved a major arms deal with Israel valued at approximately $8.7 billion, highlighting the deepening defence partnership between the two countries.
Russian athletes will not be allowed to represent their country at the Milano Cortina Winter Olympics even if a peace deal is reached with Ukraine, International Olympic Committee President Kirsty Coventry said in an interview with an Italian newspaper.
India and Pakistan on Thursday exchanged lists of nuclear facilities as well as civilian prisoners, under long-standing bilateral agreements, according to official statements from both countries.
A 6.5-magnitude earthquake has struck the southern state of Guerrero in Mexico.
Suhail Shaheen, Afghanistan’s ambassador in Doha, has again urged the United Nations to transfer Afghanistan’s seat at the UN to the Taliban-led administration, arguing the current arrangement no longer reflects realities in the country.
Russian airstrikes have devasted apartment buildings in a residential area of Kharkiv, north-eastern Ukraine, injuring at least 25 people according to the local governor.
Turkish President Recep Tayyip Erdoğan said he would have a phone call with U.S. President Donald Trump on Monday to discuss peace efforts between Ukraine and Russia as well as issues surrounding Gaza.
Russian athletes will not be allowed to represent their country at the Milano Cortina Winter Olympics even if a peace deal is reached with Ukraine, International Olympic Committee President Kirsty Coventry said in an interview with an Italian newspaper.
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