Fitch Ratings on Bulgaria’s Euro Adoption: The Agency’s Official Position
- International rating agency Fitch Ratings has confirmed that political instability in Bulgaria is not expected to affect the country’s planned accession to the euro area on 1 January 2026. According to the agency, the euro adoption process is already reflected in Bulgaria’s current sovereign credit rating and remains unchanged despite the ongoing government crisis.
- Fitch noted that the resignation of the government and the related protests, while creating challenges for the implementation of structural reforms and fiscal consolidation, do not affect the fulfilment of the criteria for joining the euro area. The agency expects the transition to the euro to proceed as planned, in line with the approval granted by the European Commission and the EU Council.
- Earlier, in July 2025, Fitch upgraded Bulgaria’s sovereign credit rating to “BBB+” with a stable outlook. This decision was directly linked to the final approval of Bulgaria’s accession to the euro area from 1 January 2026. Fitch stated that euro adoption will have a positive impact on Bulgaria’s credit profile, including strengthening monetary policy, reducing currency risks, and improving access to international financing.
