Despite opposition, Bulgaria remains on track for January eurozone entry
Source: Euractiv
SOFIA – Bulgaria remains on schedule to join the eurozone on 1 January 2026, despite President Rumen Radev’s recent call for a national referendum on the matter, Finance Minister Temenuzhka Petkova announced in Brussels ahead of the EU Economic and Financial Affairs Council (ECOFIN) meeting.
On Monday, Radev submitted his request for a referendum to the Bulgarian Parliament, but Speaker Natalia Kiselova (Bulgarian Socialist Party, PES) rejected it as inadmissible. The decision leaves the president without legal means to pursue the referendum, including any possibility to challenge the decision before the Constitutional Court.
“Eurozone membership from January 1, 2026, remains a key priority for the government,” financial minister Petkova (GERB, EPP) emphasized. “This is crucial because it will allow us to maintain economic and financial stability during these geopolitically turbulent times.”
On Tuesday, the European Commission informed Bulgaria that the country received a positive assessment of its medium-term fiscal-structural plan for 2025-2028. “This is excellent news for Bulgaria. The positive assessment means our public finances are stable and sustainable,” Petkova added.
Last week, President Radev, often accused by critics of maintaining pro-Russian positions, unexpectedly proposed a national referendum to delay the introduction of the euro, just weeks before Bulgaria is expected to receive final approval for eurozone accession.
The president’s move sparked a political storm in Sofia, with critics accusing him of exploiting public fears that adopting the euro will drive up inflation. They also accused him of opposing Bulgaria’s full integration into the EU, making the announcement on Europe Day.
Dimitar Ganev, executive director of the polling agency Trend, told Euractiv that around 60% of Bulgarians are skeptical about joining the eurozone due to fears of rising prices and concerns over the debts of Western countries.
Public opinion surveys show that most Bulgarians shifted from a positive to a negative view of the euro following Greece’s debt crisis between 2009 and 2011.
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