The European Commission on Wednesday gave Bulgaria the green light to use the euro, with the government in Sofia aiming to introduce the common currency in January 2026.
A commission report concluded that, after reducing inflation, Bulgaria now fulfils all the requirements for becoming the 21st European Union country to use the euro.
"The euro is a tangible symbol of European strength and unity," said European Commission President Ursula von der Leyen.
"Thanks to the euro, Bulgaria's economy will become stronger, with more trade with euro area partners, foreign direct investment, access to finance, quality jobs and real incomes," she said.
Bulgaria has been a member of the European Union since 2007 and had previously planned to replace its national currency, the lev, with the euro in 2024.
However, the move was postponed due to the country's high inflation rate of 9.5% at the time.
Fellow EU countries and the European Parliament still have to give their consent.
