Bulgaria to request euro area convergence report once criteria are met

Bulgaria will not yet request an extraordinary convergence report - a key step towards joining the eurozone. This was announced by Finance Minister Temenuzhka Petkova from the rostrum in Parliament.

She said that during her meetings with the EU Commissioner for Finance, the President of the Eurogroup and the President of the European Central Bank, she had received signals that Bulgaria would have to meet all the criteria before joining the the eurozone.

Petkova noted that as of December 2024, Bulgaria's inflation rate was 0.1 per cent above the reference value. "Of course, we will ask for a convergence report as soon as possible, but first we have to meet the necessary criteria," she stressed.