The National Plan for the EUR adoption has been approved
The Bulgarian Government approved the National Plan for EUR adoption in Bulgaria in May 2022, following the country’s entry into the EU’s Exchange Rate Mechanism II (ERM II) in July 2020. This operational plan targets the adoption of EUR from 1 January 2024 and sets deadlines and tasks for banks and government institutions to handle the introduction of the EU currency and how to convert deposits and loans from BGN to EUR terms.
The next steps involve several legislative amendments, including the Bulgarian National Bank Act, as well as discussions at various levels, e.g. within the Parliament and through public consultations.