The financial sector expressed support for Bulgaria's accession to the eurozone in a joint declaration
The national associations representing the banking, insurance, pension, investment and entrepreneurial sectors in our country expressed in a joint declaration their support and readiness for Bulgaria's accession to the eurozone from January 1, 2026. The declaration was sent to the presidents of the European Commission, the European Central Bank and the European Parliament, as well as to the president of the Republic of Bulgaria, the speaker of the National Assembly and all parliamentary groups, the industry organizations announced.
The declaration was signed by the Association of Banks in Bulgaria (ABB), the Bulgarian Association of Supplementary Pension Insurance Companies (BADDPO), the Association of Bulgarian Insurers (ABZ), the Bulgarian Association of Management Companies (BAUD), the Bulgarian Association of Licensed Investment Intermediaries (BALIP), the Bulgarian Association for Equity and Venture Investment (BVCA) and the Bulgarian Entrepreneurial Association (BESCO).
The associations emphasize that the introduction of the euro from January 1, 2026 is a strategic step towards increased economic stability, access to cheaper financing, strengthening investment activity and a higher credit rating for the country.
The financial sector declares its readiness to actively support the smooth transition to the euro - through consumer protection, compliance with good market practices, control over pricing behavior and conducting information campaigns, the statement says.
"Delaying the process would mean missed benefits and economic uncertainty. The euro is not just a currency - it is a commitment to stability, predictability and economic development," the organizations also point out.
"Joining the eurozone is the logical continuation of our European path. It will guarantee lower transaction costs, the elimination of currency risk and a more predictable business environment for Bulgarian citizens and companies," the declaration says.
The organizations draw attention to the fact that the experience of countries with a similar economic profile such as Croatia, Slovakia and Lithuania proves the positive effect of membership in the eurozone: accelerated growth, increased incomes and faster catching up with the developed economies in the EU.
In their joint position, the associations call on the European Commission to give the "green light" for Bulgaria's accession to the eurozone, emphasizing that the country is institutionally, technically and economically prepared for this important step, the statement says.
In their letter to President Rumen Radev and the representatives of the legislative branch in our country, the associations emphasize that at this moment it is extremely important for Bulgaria to maintain the internal institutional consensus on the topic.
"We hope that you and the parliamentary forces will clearly and consistently stand behind the process of introducing the euro, by supporting this national priority also before our European partners," the letter says.