I am moderately optimistic about Bulgaria’s accession to the eurozone from next year, said Valdis Dombrovskis

SOFIA – The Vice-President of the European Commission and Commissioner for Economy and Productivity Valdis Dombrovskis said in an interview with bTV that he is moderately optimistic about Bulgaria’s accession to the eurozone next year.

As early as last year, Bulgaria met three out of four convergence criteria. The main issue remains the inflation criterion, which is on the edge, and we need to see the official data that will come out before we can finalize the convergence report and draw a definitive conclusion, Dombrovskis said.

When asked whether the president’s initiative for a referendum on the euro affects the conclusions in the upcoming convergence report, Dombrovskis replied that he cannot comment on domestic political events, but reminded that there was a discussion on this topic in the corridors of the Council (ECOFIN) with Finance Minister Temenushka Petkova. I met with her together with the President of the European Central Bank (ECB) Christine Lagarde and the President of the Eurogroup Paschal Donohoe to discuss exactly this topic. The message from the minister was very clear – the Bulgarian authorities – the Bulgarian government and the Bulgarian National Bank maintain their request for a convergence report, which means that from the side of the EC and ECB we will continue to work on this report and plan to finalize it at the beginning of June, without any delay, Dombrovskis said.

Of course, it is important to monitor the political events regarding accession to the euro, but there is a commitment from the Bulgarian authorities – the government and the national bank, which is very clear. Also, practical cooperation continues and progresses in this direction, so from the side of the EC we continue our work as planned, the Commissioner added.

Finance Minister Temenushka Petkova said that in her conversation in Brussels with Commissioner Dombrovskis, Eurogroup President Donohoe, and representatives of the ECB, she clearly stated the position of the Bulgarian government and the BNB that Bulgaria continues to insist that this main priority of hers – membership in the eurozone from January 1, 2026, should become a reality, because Bulgaria has never been closer to its membership in the eurozone than now, we have never been more ready for this. Petkova said that the data from the National Statistical Institute is already a fact and our assessment is that Bulgaria meets this criterion for price stability as well, and I very much hope that from January 1, Bulgaria will take its rightful place in the eurozone.

Commissioner for Economy and Productivity Valdis Dombrovskis confirmed on Tuesday that the EC plans to present a report on Bulgaria’s readiness to join the eurozone at the beginning of June. (May 18)