US EditionBulgaria is approaching the adoption of the euro currency, amid ongoing public debate and concerns
- Bulgaria is close to adopting the euro as its currency, aiming to join the eurozone on January 1, 2026, with final EU approval pending.
- This move follows Bulgaria's long EU membership since 2007 and joining the Exchange Rate Mechanism in 2020, despite political instability and corruption fueling euroscepticism.
- Thousands protested in Sofia and other cities, driven by fears of inflation, economic harm, and disinformation campaigns pushed by nationalist and pro-Russian parties.
- A Eurobarometer survey found that half of Bulgarians are opposed to adopting the euro, while experts indicate that any inflation resulting from the currency switch would likely be minimal—generally under 1%—and that Bulgaria’s disciplined fiscal policies mean it poses virtually no financial threat to the broader eurozone.
- Despite societal tensions, the government intends to proceed with euro adoption, expecting benefits like lower borrowing costs and deeper European integration.
107 Articles
107 Articles
Bulgaria looks set to soon switch to the euro as its currency – after the European Commission gave the green light. The announcement caused several of the country's top politicians to see red and start arguing inside parliament.
This is a decisive step towards Bulgaria's adoption of the euro. The European Commission recommends the country's accession to the euro area. As of 1 January 2026, Bulgarians could therefore abandon the lev, their national currency, for the euro.
The European Commission on Wednesday gave Bulgaria the green light to switch to the single currency, the euro, on January 1, 2026, making Bulgaria the 21st member state of the euro area. The decision still needs to be ratified by member states, but it should be largely a formality.
In Bulgaria, the euro is to be introduced in 2026, but this creates tensions within the country.
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