Valdis Dombrovskis Expresses Moderate Optimism Regarding Bulgaria’s Eurozone Accession Next Year

SOFIA – Valdis Dombrovskis, the Vice-President of the European Commission and Commissioner for Economy and Productivity, expressed moderate optimism regarding Bulgaria’s potential entry into the eurozone next year during an interview with bTV.

Last year, Bulgaria succeeded in meeting three out of four necessary convergence criteria; however, the inflation criterion remains a concern. Dombrovskis emphasized the importance of awaiting official data, which is crucial before finalizing the convergence report and reaching a conclusive decision.

When questioned about President Rumen Radev’s proposal for a referendum on the euro and its possible impact on the forthcoming convergence report, Dombrovskis refrained from commenting on domestic political matters. He did, however, note that discussions had taken place within the Council (ECOFIN) alongside Bulgarian Finance Minister Temenushka Petkova. During their meeting, which also included European Central Bank President Christine Lagarde and Eurogroup President Paschal Donohoe, the message from Minister Petkova was unequivocal: the Bulgarian government and the Bulgarian National Bank are committed to the convergence report. Dombrovskis reassured that both the European Commission and the ECB intend to proceed with the report’s completion by early June without delays.

He acknowledged that while monitoring political developments surrounding eurozone accession is vital, there is clear commitment from Bulgarian authorities. The practical collaboration continues to progress, and the European Commission will maintain its planned efforts.

Finance Minister Temenushka Petkova, in her discussions in Brussels with Dombrovksis, Donohoe, and ECB representatives, reiterated the Bulgarian government’s position. She affirmed that Bulgaria aims for eurozone membership by January 1, 2026, stating, “Bulgaria has never been closer or more prepared for this goal.” Petkova highlighted that recent data from the National Statistical Institute supports the view that Bulgaria meets the price stability criterion, expressing hope that Bulgaria will officially join the eurozone on January 1.

Dombrovskis confirmed that the European Commission is set to release a report assessing Bulgaria’s readiness for eurozone membership at the start of June.