site.btaEurozone Countries Welcome Bulgaria’s Progress Toward Euro Adoption

Eurozone countries welcomed Bulgaria’s progress toward adopting the common currency, according to conclusions adopted by the Eurogroup during the European Council meeting in Brussels on Thursday.

"We welcome Bulgaria’s progress to adopt the euro, based on the agreed criteria. We look forward to the assessments of the Commission and the European Central Bank," the conclusions stated.

Earlier in the day, Prime Minister Rosen Zhelyazkov told Bulgarian journalists in Brussels that he expects the special reports on Bulgaria’s readiness for euro adoption to be completed by May or June.

In February, Bulgaria requested ad hoc convergence reports from the European Commission and the ECB. On Wednesday, the EU's statistical office, Eurostat, released February data indicating that Bulgaria’s inflation now meets the price stability requirement.