Bulgaria: 2025 Article IV Consultation-Press Release; Staff Report; and Staff Supplement

Bulgaria is approaching a major milestone with the adoption of the euro in January 2026. Euro area accession provides a near-term boost to the outlook and offers an opportunity to reinforce institutions, bolster policy credibility, and raise medium-term growth. In a challenging environment—a minority government is in place since January 2025, following the seventh parliamentary election in four years—the 2025 budget has been approved, the EU Recovery and Resilience Plan (RRP) has been renegotiated, and euro adoption is advancing.