Text size

Fitch Ratings: Sofia could be ready to adopt the euro in early 2025

Fitch has affirmed Bulgaria's long-term foreign currency issuer default rating at BBB with a positive outlook

published on 10/19/24 1:43 PM

Photo: EPA/BGNES

International rating agency Fitch Ratings has affirmed Bulgaria's long-term foreign and local currency credit rating at BBB with a positive outlook, the Finance Ministry said. The positive outlook reflects the country's prospects for eurozone membership, which would further improve its external position indicators.

"Bulgaria met all the euro-adoption nominal convergence criteria apart from price stability according to the 2024 Convergence Report, which was released in mid-2024. Since then inflation in Bulgaria has continued to decline, narrowing the gap between average inflation in the country and that of the three best performing EU member states," the agency pointed out.

In Fitch's view, Bulgaria could meet the price stability criterion in early 2025, depending on inflation developments across the EU.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy bulgaria euro fitch rating positive outlook

More from category

Trade unions in Bulgaria oppose planned minimum wage of 605 euros, prepare protest

The two largest trade unions in Bulgaria - the Confederation of Independent Trade Unions in Bulgaria and the Confederation of Trade Unions "Podkrepa" - are organizing a warning protest in front of the Council of Ministers building. It is planned for..

published on 10/29/25 2:42 PM

Bulgaria's Fiscal Council recommends introducing budget savings measures in 2026 state budget

In view of the country's declining population, the Fiscal Council recommends that the government take savings measures in the 2026 state budget. The measures include: reducing the municipal administration by merging municipalities;..

published on 10/28/25 11:51 AM

No disruptions or price increases expected on Bulgaria’s fuel market

No disruptions or price increases are expected on Bulgaria’s fuel market following the US sanctions imposed on Russian oil companies Rosneft and Lukoil, Bulgarian Petroleum and Gas Association Chairman Svetoslav Benchev told BTA. "For now, I..

published on 10/24/25 10:22 AM