Has work on Bulgaria's adoption of the euro been put on hold?

The adoption of the euro as Bulgaria's national currency has begun. The idea of law has been introduced, and certain general principles have been presented, as we've already indicated in a lot of earlier news, but there are some concerns that have come up, all relating to politics and other issues related to Bulgaria joining the eurozone. We can see that institutions in Bulgaria are already working on this project, despite the fact that there are currently no official completion deadlines, with the exception of the declaration that the euro will probably be present in 2025. The Bulgarian National Bank is one of them. To be more exact, they disclosed that they would roll out a variety of oversight systems, websites, and assistance initiatives to support this project.

The Bulgarian National Bank (BNB) has no formal basis and has not suspended the technical work on the adoption of the euro. It is being carried out on schedule and within the bank's budget for 2023. The press center of the Bulgarian National Bank said, regarding political comments, that the process of joining the Eurozone should be stopped. On April 13 this year, the Governing Council of the BNB adopted a draft of a new Law on the BNB, which creates the legal framework for the work of the BNB in the conditions of the Eurozone. The draft has been submitted to the Ministry of Finance and is in the process of being agreed upon with the ECB. The preparation for the test minting of the Bulgarian euro coins, as well as the adaptation of the payment systems, is also underway. The regulations and more rules about this process are expected.