Bulgaria is one step closer to adopting the euro as its currency next year, as it received approval from the European Commission and European Central Bank after meeting certain economic criteria. Joining the Eurozone will bring long-term benefits including a higher credit rating,

Bulgaria has the green light to join the euro next year and become the 21st member of the European Union's currency union.

The European Commission and the European Central Bank gave Bulgaria the go-ahead on Wednesday to adopt the euro currency from the start of 2026, making Bulgaria the 21st country to join the single currency area.