Bulgaria unable to meet eurozone accession target date - fin min

Bulgaria is now aiming to adopt the single currency on January 1, 2025, but this could happen earlier, Velkova said, as seen in a video file posted by local Nova TV channel.

Bulgaria's 12-month average harmonised consumer price inflation, at 13.0% in December, has been well above the rate of the three best-performing EU member states throughout 2022. In January, it dropped to 14.1%.

Bulgaria, a member of the European Union since 2007, operates a currency board system pegging the lev to the euro at a fixed exchange rate. The country joined the exchange rate mechanism (ERM II), the training ground for euro adoption, and the EU's banking union, in July 2020.