On the basis of reports presented by the Commission and the ECB on the progress made by Bulgaria in fulfilling its obligations regarding the achievement of economic and monetary union, it is concluded that, regarding the fulfilment by Bulgaria of the convergence criteria mentioned in the four indents of Article 140(1) TFEU: the average inflation rate in Bulgaria in the 12-month period ending in April 2025 stood at 2,7 %, which is below the reference value, and a review of a broad range of indicators does not identify causes for concern regarding the sustainability of price stability; Bulgaria is not the subject of a Council decision on the existence of an excessive deficit; Bulgaria has been a member of ERM II since 10 July 2020 and during the two years preceding the assessment, the lev (BGN) exchange rate has not been subject to severe tensions and Bulgaria has not devalued the BGN bilateral central rate against the euro on its own initiative. Finally, in the 12-month period ending in April 2025, the long-term interest rate in Bulgaria was, on average 3,9 %, which is well below the reference value.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
