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REPORT (COM(2025)0304 – C100110/2025 – 2025/0158(NLE))

On the proposal for a Council decision on the adoption by Bulgaria of the euro on 1 January 2026

A-10-2025-0113

Committee on Economic and Monetary Affairs · Rapporteur: Eva Maydell

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✦ In short · AI summary of this text, generated 4 Sept 2026

Written by a language model from the full text only; every figure comes from the text. The paragraph links open the paragraph a statement rests on — check the text itself before relying on it.

Parliament approves the Commission proposal for Bulgaria to adopt the euro on 1 January 2026, based on its assessment of convergence criteria.

Committee position. The Committee on Economic and Monetary Affairs recommends that Parliament approve the Commission proposal, thereby supporting the lifting of Bulgaria's derogation and its adoption of the euro on 1 January 2026.

Key points

  1. Approves the Commission proposal for a Council decision on Bulgaria adopting the euro on 1 January 2026.
  2. Calls on the Council to notify Parliament if it intends to depart from the approved text, and to consult again if it intends to substantially amend it.
  3. Finds Bulgaria's national legislation, including the Law on the Bulgarian National Bank, fully aligned with EU requirements on central bank independence and related provisions.
  4. Notes Bulgaria's average inflation rate of 2.7% over the 12 months to April 2025, below the reference value of 2.8%.
  5. Notes Bulgaria's general government deficit at 3.0% of GDP in 2024 and debt-to-GDP ratio at 24.1%, below the 60% reference value.
  6. Notes the lev's participation in ERM II without deviation from the central rate, and that further efforts are needed on anti-money laundering and counter terrorist financing.
  7. Notes Bulgaria's average long-term interest rate of 3.9% in the twelve months ending April 2025, below the reference value of 5.1%.
  8. Notes Bulgaria's improved external position, integration with the euro area, and progress, but further actions needed on rule of law, anti-corruption, and regulatory quality.
  9. Notes the financial sector is well embedded in the euro area, with risks mitigated by conservative macroprudential policy and banking system robustness.
  10. Notes Bulgaria's Recovery and Resilience Plan with €5.7 billion in grants and cohesion funds of €10.7 billion, supporting reforms and convergence.
  11. Recommends that the derogation be lifted and Bulgaria adopts the euro on 1 January 2026.

Who is affected

  • Bulgaria: would adopt the euro as its currency on 1 January 2026, ending its derogation status.
  • The Council: must notify Parliament if it departs from the approved text and consult again if it substantially amends it.

Figures and deadlines

  • 1 January 2026: date for Bulgaria's adoption of the euro.
  • 2.7%: Bulgaria's average inflation rate over 12 months to April 2025; reference value 2.8%.
  • 3.0% of GDP: Bulgaria's general government deficit in 2024; 24.1% debt-to-GDP ratio.
  • 3.9%: Bulgaria's average long-term interest rate in twelve months ending April 2025; reference value 5.1%.
  • €5.7 billion: EU grants for Bulgaria's Recovery and Resilience Plan (2021–2026).
  • €10.7 billion: Cohesion policy funds for Bulgaria for 2021–2027.

Legal basis: Article 140(2) of the Treaty on the Functioning of the European Union