Analysis-Bulgaria's euro zone entry threatened by election stalemate

Seller Georgi Simeonov waits for customers at Krasno Selo market, Sofia, Bulgaria, November 4, 2022. REUTERS/Stoyan Nenov

SOFIA (Reuters) - Bulgaria's longstanding political deadlock threatens to delay its plan to adopt the euro on Jan. 1, 2024, at a time when the eurosceptic and pro-Russian Revival party is increasingly vocal and Bulgarians themselves are deeply divided about the euro.

Joining the euro zone would help Bulgaria, the European Union's poorest member state, attract more foreign investment and secure credit ratings upgrades that could reduce its debt financing costs, economists say. The Balkan country has long pegged its lev currency to the euro.