site.btaBulgaria to Request Reports from ECB, EC Upon Meeting Euro Area Criteria

Prime Minister Dimitar Glavchev commented on the European Central Bank (ECB) and the European Commission (EC)'s confirmation that Bulgaria meets all euro area entry requirements, barring price stability, the government press service said on Wednesday.

Speaking at the start of Wednesday’s government meeting, he said: “I expect that Bulgaria will meet this criterion by year-end and I plan to request extraordinary convergence reports from ECB and EC to demonstrate Bulgaria's readiness to adopt the euro.”

Earlier on Wednesday, the EC and ECB released the 2024 convergence reports, assessing the progress of six member states—Bulgaria, Czechia, Hungary, Poland, Romania, and Sweden—bound to join the Eurozone. Despite their European Union membership commitments necessitating their inclusion in the euro area, none are ready to adopt the euro, with Bulgaria alone meeting all but one condition.