Bulgaria to Set January 1, 2025 as New Indicative Date for Euro Adoption

Bulgaria will include January 1, 2025 in an official document as a target date for its euro zone membership, it transpired from a draft decree of the Council of Ministers amending and supplementing Government Decree No. 168 of July 2015 on the establishment of a Coordination Council for the preparation of the Republic of Bulgaria for euro zone membership.  

The document has been published for public discussions on the government website The closing date of the public discussions is October 23, 2023.

The draft amendment proposes the adoption of regulatory changes to the Council of Ministers’ Decree No. 168 of 2015 “in order to create preconditions for more effective and timely coordination of the management and implementation of the Republic of Bulgaria’s preparations for euro area membership with a view of meeting Bulgaria’s objective to introduce the euro from the new indicative date of January 1, 2025.”

A proposal is made to update the functions and leadership of some of the working groups of the Coordination Council, and the formation of a new Government Securities subgroup under the Macroeconomic Analysis and Public Finance working group, which will be responsible for adapting the legal framework and systems for dealing with government securities from BGN to EUR, the website said.