At its meeting today, the government approved a Decision to request the European Commission and the European Central Bank to prepare extraordinary convergence reports for Bulgaria, the press service of the Council of Ministers announced.
The decision follows the Eurostat data on inflation in EU countries published on February 24, 2025, according to which the reference value of the price stability criterion with data for January 2025 is calculated at 2.6%. Inflation in Bulgaria for the same period is also 2.6%, which means that with the data as of January this year. our country also meets the last criterion for membership in the euro area.
With the act, the Council of Ministers authorizes the Minister of Finance and proposes to the Governor of the Bulgarian National Bank to sign a letter containing a request for the preparation of extraordinary convergence reports and to send it to the President of the European Commission and the President of the European Central Bank.
The decision was prepared in implementation of the Decision of the National Assembly of 26 July 2024 on accelerating and completing the process of practical preparations for the adoption of the euro in the Republic of Bulgaria and in accordance with Article 140, paragraph 1 of the Treaty on the Functioning of the European Union, on the preparation of extraordinary convergence reports by the European Commission and the European Central Bank.