The Bulgarian Parliament has adopted the Law on the Introduction of the Euro, paving the way for the country's eventual adoption of the single currency. The law was passed with the support of 167 MPs from GERB-SDS, the Movement for Rights and Freedoms (DPS), and We Continue the Change-Democratic Bulgaria. 48 MPs voted against the law, and 13 MPs abstained.
The adoption of the law triggers a series of steps that Bulgaria must take before it can officially join the Eurozone. The most immediate requirement is for the country to meet the inflation criterion, which is the only criterion it has not yet met. Once this criterion is met, the cabinet is obligated to request an extraordinary report from the European Commission on the country's progress towards adopting the euro. Within 14 days of receiving this report, the cabinet must then propose the adoption of the euro from July 1, 2025.
It is important to note that countries have not typically been accepted into the Eurozone in the middle of the year. However, there is no established rule that this must necessarily happen at the beginning of the calendar year. The actual date for the introduction of the euro in Bulgaria will be determined by a Decision of the EU Council.