Staff Report
The European Parliament has officially approved Bulgaria’s entry into the Eurozone, marking a significant milestone in the country’s economic integration with the European Union.
Bulgaria is set to adopt the euro as its official currency, replacing the lev, in a move aimed at enhancing financial stability, attracting investment, and facilitating closer economic ties with other EU member states.
The decision follows years of reforms and meeting the stringent criteria required for Eurozone membership, including fiscal discipline, price stability, and robust banking oversight.
EU officials welcomed the approval, highlighting Bulgaria’s progress and the benefits of expanding the common currency area for both Bulgaria and the broader European economy.
The transition is expected to be completed within the next 12 to 18 months, with extensive preparations underway to ensure a smooth changeover for businesses and consumers alike.
