In what year could Romania switch to the euro currency. Bulgaria greets us on the go

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Romania lags behind Bulgaria in terms of the steps taken to adopt the euro currency. The German publication Merkur analyzed the steps taken by the two member states of the European Union in this direction.

The full accession of Romania and Bulgaria to the Schengen Area, from January 1, 2025, creates the prerequisites for economic growth in the two states, the source mentioned. Thus, discussions regarding the adoption of the euro in Romania and Bulgaria are becoming more and more justified.

According to German columnists, the neighbors south of the Danube could join the euro currency in 2026, if the Bulgarians do not change their minds and the economy allows it. Dimitar Radev, the president of the National Bank of Bulgaria (NBB), said that the technical infrastructure needed for this transition is already ready, but success depends to a large extent on the significant reduction of inflation.

Romania is crawling, unlike Bulgaria

Meanwhile, in Romania, the plan to join the euro is moving forward, rather. According to the data published by Euractiv, our country could achieve the desired goal only in 2029. There is still a need for economic and institutional reforms, in order to align Romania with the criteria that must be checked for joining the euro.

It remains to be seen if the specialists will reevaluate their predictions regarding Romania, after joining the Schengen Area. It is certain that the 17 years in which our country was a member of the EU, but “forbidden” in Schengen, generated annual losses of 2.3 billion euros, according to the European Economic and Social Committee (CESE), plus 90 million euros for the transport industry, caused by the delays at the borders.On the other hand, the losses of the Bulgarians are estimated at 834 million euros, annually.