Bulgarian Finance Minister: Bulgaria will adopt the Euro on 1 January 2024


Bulgaria will adopt the euro on 1 January 2024, as decided by the previous government.” This was announced by Deputy Prime Minister and Minister of Finance Asen Vassilev and Minister of Innovation Daniel Lorer.

The plan for adopting the euro remains the same as announced by the Bulgarian National Bank and the Ministry of Finance in June last year. It provides for the adoption of the euro immediately without a transition period.

"There are two or three deadlines in this plan, but nothing else has been changed in this plan from 30 June last year. Absolutely all citizens, not only MPs, had almost a year to get acquainted with this plan," said Asen Vassilev.

The most important date in the plan remains, namely - Bulgaria's entry into the Eurozone.

"In general, the political message from us is that the date of 1 January 2024 is supported by all, the technical part is worked by both by the Ministry of Finance and by all concerned. Because the process itself concerns everyone who shops, but for the state itself it is a very important process," said Daniel Lorer.

The Minister of Innovation advised Bulgarian politicians to hurry up with the final adoption of the plan after preparing the currently required analyzes.

"My message to all people in the Bulgarian Parliament and especially to the coalition partners is to show exceptional responsibility for this process so that it can take place as quickly as possible – 1 January 2024 is coming very soon and we have a lot of technical work ahead of us", added Laurer.

Currently, Bulgaria does not meet and falls within the exceptions of the Maastricht criteria for adopting the euro, due to the Covid-19 pandemic. Our country is in the "waiting room of the Eurozone", as they call the currency mechanism ERM 2. There is no period in which it can stay there.