Bulgaria is scrapping its target to adopt the euro in January 2024 as it fails to meet some criteria, but should seek to join the common currency by 2025 or possibly earlier, Finance Minister Rossitsa Velkova said on Friday.
She said Bulgaria could file the report after July if it met the criteria and, if "we have the support of member states, we could join the euro zone no later than Jan. 1, 2025."
For years, widespread corruption in the Balkan country has been seen as a major obstacle to joining the euro. Last week, thesanctioned eight Bulgarians, including two former ministers, for alleged corruption. Before it was dissolved, Bulgaria's parliament had failed to adopt changes to anti-money laundering laws, to the insurance code and to a trade law needed to join the euro.
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