Bulgaria is postponing its goal of joining the euro zone from 2024 and 2025, Finance Minister Rozica Velkova announced on Friday.
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Parliament has not been able to adopt the necessary reforms in money laundering and other areas, said the minister.
“The date of January 1, 2024 is no longer valid. The new target date is January 1, 2025,” Velkova said at the press conference.
“Our European partners believe that Bulgaria is overdue for legislation,” she added.
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Bulgaria’s national currency, the leva, is already pegged to the euro with a fixed exchange rate.
On April 2, new parliamentary elections are expected in Bulgaria – already the fifth in two years.
Previous elections resulted in the election of fragmented legislatures that failed to form a functioning government.
