BNB Governor Radev Says Bulgaria’s Accession to Eurozone Is Historical Inevitability

Konstantin Karagyozov

Bulgarian National Bank Governor Dimitar Radev addresses the high-level conference “Bulgaria on the Doorstep of the Eurozone” in Sofia, November 4, 2025 (BTA Photo/Milena Stoykova)

Sofia,

04.11.2025 12:13

(BTA)

Addressing the high-level conference “Bulgaria on the Doorstep of the Eurozone” in Sofia, Bulgarian National Bank (BNB) Governor Dimitar Radev said that Bulgaria’s accession to the euro area was a historical inevitability, as the country was one of the oldest in Europe with a deeply rooted European identity. The forum, held at the Boyana Residence, was part of the national communication campaign for Bulgaria’s adoption of the euro on January 1, 2026, organized by the Ministry of Finance and the Bulgarian National Bank.

Radev underlined that the context of Bulgaria’s accession to the euro area carried both historical and strategic dimensions, ultimately concerning the country’s direction and sense of belonging. He said that both questions had the same answer – Europe, or more precisely, the heart of Europe.

He emphasized that Bulgaria was European by its historical heritage and identity and that there was no other natural course of development for the country. Therefore, he said, joining the euro area was not a matter of political circumstance but a historical inevitability.

The BNB Governor explained that this process reflected Bulgaria’s responsibility and commitment to the European project. He finds it remarkable, he said, that the country was joining at a time when both Europe and the world were facing serious challenges. Bulgaria, he added, did not wish to remain a bystander to these developments but sought to be an active participant in the discussion and in finding solutions.

Radev further noted that the euro area and the European Union were global leaders in ensuring the security and prosperity of their citizens. He said that challenges should be viewed as opportunities, and that the fact that the euro was the world’s second most important reserve currency placed Bulgaria’s membership in a new strategic context.

He stressed that the country needed to continue pursuing a prudent macroeconomic policy even after joining the euro area. He expressed confidence that Bulgaria had the capacity to cope with the challenges related to its fiscal position, which had been under pressure in recent years.

Radev said that the Bulgarian National Bank would remain a critical yet constructive voice within its European and national mandate and would continue to serve as a source of predictability and stability for both households and businesses.

He added that joining the euro area should not be seen as the end of the road, but rather as its beginning. He voiced hope that it would mark the start of a path toward economic prosperity and a better life for the Bulgarian people.

/KK/