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Investing.com -- Bulgaria is set to become the 21st member of the euro zone on January 1, 2026, after European Union finance ministers formally supported the country’s adoption of the euro currency on Friday.
The ministers’ backing follows positive assessments from both the European Commission and the European Central Bank regarding Bulgaria’s readiness to join the currency union. EU leaders are expected to endorse this decision at their upcoming summit in Brussels on June 27.
The exchange rate for converting the Bulgarian lev to the euro will be determined by EU finance ministers at their meeting in early July. This will give Bulgaria a six-month preparation period for the technical transition before the start of 2026.
Bulgaria has been working toward euro adoption since joining the European Union in 2007. Despite this long-standing goal, public sentiment in Bulgaria has shifted over time. According to a Eurobarometer poll conducted in May, 50% of Bulgarians now express skepticism about the euro, with some citizens concerned that the currency switch might lead to price increases.
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