Bulgaria has formally adopted the euro, becoming the 21st member of the eurozone and bringing an end to the lev, a national currency that has existed in various forms for centuries. The change took effect at the start of 2026, nearly two decades after Bulgaria joined the European Union, marking what officials described as the final step in the country’s economic and institutional integration with Europe.
European leaders welcomed the move as a symbol of unity and economic alignment. Christine Lagarde, president of the European Central Bank, called the euro a powerful expression of shared values and collective strength, while Ursula von der Leyen said the switch would ease travel, enhance market transparency and support trade competitiveness.
At home, reactions were mixed. Many Bulgarians hope the euro will strengthen confidence, attract foreign investment and improve the country’s credit standing. President Rumen Radev hailed the change as a historic milestone but criticised the absence of a public referendum, reflecting a broader divide between political leaders and public sentiment.
Concerns centre largely on inflation and political instability. Nearly half of Bulgarians oppose the currency change, according to recent surveys, amid fears that prices will rise in a country that has already seen food inflation outpace the eurozone average. Retailers have begun displaying prices in both currencies, and some businesses report logistical challenges in accessing euro cash during the transition.
Economists argue that the main benefits will emerge over the longer term, citing stronger currency credibility, improved investor confidence and lower borrowing costs. Bulgaria’s accession also expands the euro’s reach to more than 350 million Europeans, reinforcing the single currency’s role as a central pillar of the EU economy.
Despite lingering doubts, the euro’s introduction closes a long chapter in Bulgaria’s post-communist transition, embedding the country more deeply within Europe’s monetary core as it navigates economic reform and political uncertainty.
