Bulgaria adopts the euro

Bulgaria has received formal approval from the European Union to adopt the euro as its official currency from 1 January 2026.

Bulgaria will thus become the 21st country in the euro zone and will replace the Bulgarian lev, in circulation since 1881. According to an EU press release, "the euro will strengthen the Bulgarian economy and bring stability and tangible benefits to citizens and businesses. The EU and its euro area will be bigger and more resilient, both economically and politically. Euro banknotes will also bear the Cyrillic alphabet".

With the adoption of the euro, Bulgaria will gain the right to participate fully in the decision-making process of the European Central Bank, which was not the case despite its current parity with the euro.

Despite the economic and political advantages (greater integration, lower transaction costs, possible increase in investment and stability), there are social concerns in Bulgaria, mainly due to fears of inflation and scepticism as to whether the country is sufficiently prepared for the changeover to the euro.

Ursula Von der Leyen, President of the European Commission, said on X "Bulgaria, the euro is coming! It's much more than just a new currency: it's a real success story. The euro will strengthen the Bulgarian economy and bring great benefits to Bulgarian citizens and businesses."

(MH with Masi - Source : Euronews - Photo : © Unsplash)