IMF chief: Membership of euro zone an excellent chance for Bulgaria
Membership of the euro zone is an excellent chance for Bulgaria, International Monetary Fund (IMF) managing director Kristalina Georgieva said in talks in Sofia with Prime Minister Rossen Zhelyazkov on June 2, the Bulgarian government information service said.
In February 2025, Bulgaria’s government requested special convergence reports from the European Commission and the European Central Bank to show whether Bulgaria meets the criteria for entering the euro zone. The official results are expected on June 4. After the reports are available, the relevant European institutions will decide on admitting Bulgaria to the euro zone as of January 1 2026.
Georgieva, a Bulgarian national, highlighted a number of positive aspects for Bulgaria, the statement said.
She emphasised the higher investment attractiveness that Bulgaria will have, which is important for all sectors, especially tourism.
Georgieva pointed out the greater protection of Bulgaria within the euro zone.
She highlighted Europe’s chance for a greater leadership role in the global economy and the opportunities for Bulgaria that arise from this, the statement said.
Zhelyazkov said that Bulgaria was currently on the eve of the adoption of the euro.
“A new page is ahead for the Bulgarian economy: greater trust, more investments, more opportunities,” Zhelyazkov said.
He cited the decisive role of the IMF nearly three decades ago in the reforms that were made in Bulgaria.
“Today, along with our ambition to dispel people’s fears, we want to show them that the prospects for the Bulgarian economy and society with the effective introduction of the euro are much greater than those we had and successfully implemented with the introduction of the currency board,” Zhelyazkov said.
He said that the introduction of the euro on January 1, 2026 is a top priority of the government, “as we are already in the final stage in the process of preparing Bulgaria for membership in the euro zone”.
“We are working hard on the remaining activities, and our goal is to finalize them in the shortest possible time,” Zhelyazkov said.
He cited the enormous progress that Bulgaria has made in all areas of work in the course of preparing for the euro zone, including in the public, financial and non-financial sectors, with almost all measures already implemented, the statement said.
The strategically important documents related to the introduction of the euro, as well as key legislation, have been prepared and adopted, it said.
Technical preparation has also been ensured, thus ensuring that sectors such as banking are now fully prepared for the adoption of the euro. The intensive phase of the communication campaign for the euro is also about to start, Zhelyazkov said.
(Photo: government.bg)
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