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Bulgaria plans to adopt the euro and become the 21st member state of the eurozone. The Bulgarian lev has been on a currency board since 1997, with a fixed exchange rate initially against the Deutsche Mark and subsequently its replacement the euro. Bulgaria's target date for introduction of the euro was 1 January 2025.
Bulgaria's plans to enter the eurozone's waiting room this spring and adopt the euro currency in 2023 are "completely foreseeable", the head of the International Monetary Fund said on Sunday. The ...
The enlargement of the eurozone is an ongoing process within the European Union (EU).All member states of the European Union, except Denmark which negotiated an opt-out from the provisions, are obliged to adopt the euro as their sole currency once they meet the criteria, which include: complying with the debt and deficit criteria outlined by the Stability and Growth Pact, keeping inflation and ...
The European Central Bank (seat in Frankfurt depicted) is the supranational monetary authority of the eurozone. The monetary policy of all countries in the eurozone is managed by the European Central Bank (ECB) and the Eurosystem which comprises the ECB and the central banks of the EU states who have joined the eurozone. Countries outside the ...
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Bulgaria and Romania are actively working to adopt the euro, while the four remaining states do not have a migration plan in progress. Bulgaria: The Bulgarian government aims to replace the Bulgarian lev with the euro by 2026. [30] [31] In November 2023, Bulgarian euro coin design has been revealed and approved by the Bulgarian National Bank. [32]
1 January – Bulgaria and Romania join the Schengen Area. [1] 16 January – The National Assembly approves a coalition government between GERB, the BSP and the ITN led by Prime Minister Rosen Zhelyazkov of GERB. [2]
Government policy on euro adoption Convergence criteria compliance [21] (as of June 2024) Notes Bulgaria: Lev (BGN) 1.95583 [nb 1] 2007-01-01 2020-07-10 Euro adoption on 1 July 2025 [22] Compliant with 4 out of 5 criteria (all except inflation) [23] The Bulgarian government expects to be in compliance with all criteria by the end of 2024 [23 ...