REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL CONVERGENCE REPORT 2025 on Bulgaria (prepared in accordance with Article 140(1) of the Treaty on the Functioning of the Europea...

EUROPEAN COMMISSION Brussels, 4.6.2025 COM(2025) 303 final/2 DOWNGRADED ON 4.6.2025 REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL CONVERGENCE REPORT 2025 on Bulgaria (prepared in accordance with Article 140(1) of the Treaty on the Functioning of the European Union) {SWD(2025) 154 final} EN EN 1. PURPOSE OF THE REPORT The euro is meant to be the single currency of the European Union as a whole. It is currently used every day by around 350 million people in the 20 Member States of the euro area. The practical benefits include more stable prices, lower transaction costs for people and businesses, more transparent and competitive markets and increased intra-EU and international trade. The euro is also the second most used currency worldwide. Article 140(1) of the Treaty on the Functioning of the European Union (TFEU) requires the Commission and the European Central Bank (ECB) to report to the Council, at least once every two years, or at the request of a Member State with a derogation1, on the progress that Member States have made in fulfilling their obligations to achieve economic and monetary union. The latest Commission and ECB convergence reports were adopted in June 2024. The 2025 Convergence Report on Bulgaria has been prepared in response to a request for a convergence assessment from Bulgaria, submitted on 25 February 2025. The staff working document accompanying this report provides a more detailed...