The government will be uncompromising towards every attempt at unjustified price increases. This was stated during the prestigious MONEY NOISE 2025 forum in her first public comment at a media event after the positive reports of the EC and the ECB on Bulgaria's progress in joining the eurozone by Finance Minister Temenuzhka Petkova.
She explained that one of the biggest concerns of citizens about entering the single currency union is related to purchasing power. These are concerns provoked by certain political parties and entities, the Finance Minister emphasized. I want to clearly state that we have taken all necessary measures, such as the Consumer Protection Commission, the Competition Protection Commission, all involved state institutions will not allow an unjustified increase in prices. With joint efforts we will be able to cope with this extremely important task, Petkova emphasized.
We all know what the benefits of the euro are, said the Finance Minister. After joining the eurozone, we expect:
• Economic growth and financial stability
• More foreign investments
• Reduction of transaction costs
• Lower interest rates on loans
• Higher competitiveness for citizens
Whether we will successfully introduce the euro depends on the degree to which the country, the government, and the institutions are ready, Temenuzhka Petkova emphasized and stated categorically:
The Bulgarian government is ready to adopt the euro from January 1, 2026.
We have taken all necessary measures – with the adoption of the Law on the Introduction of the Euro, the entire process is very clearly outlined, the Finance Minister noted.
We have a very responsible task ahead of us, related to the full mobilization of all institutions to join efforts and smoothly introduce the euro, she added.
Petkova explained that yesterday during the Council of Ministers, two very important decisions were made.
One is related to the adopted memorandum, with which the executive branch will rely exclusively on Bulgarian business to actively participate in the implementation of the entire process of joining the eurozone, in Petkova's words:
So that we can lend a hand and walk this important and difficult path together.
The other decision is related to the creation of a coordination council with the participation of all institutions related to this process, which will strictly monitor what is happening.
We expect the convergence reports to be discussed in the Eurogroup, which will adopt a recommendation to the Council for the adoption of the euro in Bulgaria, Petkova added.
According to her, the European Council is then expected to discuss and support the reports and the proposal for Bulgaria's admission to the eurozone from 1 January 2026, after which ECOFIN must approve the final Council Decision on the adoption of the euro, and the EP must adopt an opinion.
As of today, the state's information campaign for the adoption of the euro has practically started and will be expanded, the Finance Minister explained.
In conclusion, she thanked everyone who participated in the long and difficult process of Bulgaria's full accession to the eurozone, carried out in recent years.