Based on the latest forecasts from the EU Commission, it appears increasingly likely that Bulgaria will meet the so-called convergence requirements for countries that want to introduce the common currency, reports Bloomberg with reference to EU sources.
The European Central Bank (ECB) and the EU Commission will release their convergence reports on June 4, which could pave the way for a decision to allow Bulgaria to introduce the euro in early 2026.
The issue is likely to be raised at an EU summit in June, and a decision on the exchange rate for Bulgaria's currency, the lev, when the transition takes place, could be made in July.
Bulgaria's lev has had a fixed exchange rate against the euro for several years, and the country's central bank has not pursued an independent monetary policy in relation to the ECB.
The country's budget deficit has been low for many years, and the debt as a percentage of GDP is among the lowest in the EU, while inflation has been pushed back to levels within the convergence requirements.
The last time an EU country introduced the euro was in 2023, when Croatia became part of the currency union.
In Sweden, support for replacing the krona with the euro has increased in recent years. However, according to the latest survey from the Som Institute at the University of Gothenburg, conducted in the autumn of 2024, there are still slightly more who say no than yes to the euro among Swedish voters.
In a referendum on introducing the euro in Sweden in 2003, 55.9 percent voted no and 42.0 percent yes.
