Bulgaria stands on the cusp of a major economic transformation, with its banks, businesses, and citizens making final preparations to abandon the national lev and embrace the euro as its official currency. The long-awaited changeover is scheduled for 1 January 2026, marking a pivotal moment for the Balkan nation that has stirred a complex mix of anticipation, scepticism, and outright opposition among its 6.7 million people.
A Milestone Met with Mixed Emotions
The Black Sea country, situated on the European Union's southeastern frontier, will become the 21st member of the euro currency zone. This follows its successful meeting of the strict formal entry criteria this year, which included benchmarks for inflation, budget deficit, long-term borrowing costs, and exchange-rate stability. The move comes two years after Croatia's own accession in January 2023, and will expand the number of Europeans using the single currency to over 350 million.
While successive governments have pursued this goal since Bulgaria joined the EU, the nation remains deeply split on the issue, according to recent polls. The step is largely favoured by the business community, but many ordinary citizens harbour fears that the switch will trigger price increases. These concerns are amplified by a domestic political crisis, which saw the government step down in December 2025 amid widespread protests against proposed tax hikes.
Public Suspicion and Practical Preparations
In a country with historic cultural and political ties to Russia, a segment of the population views the euro adoption as a step towards excessive allegiance to Europe. "I am against it, first because the lev is our national currency," said Sofia pensioner Emil Ivanov. "Secondly, Europe is heading towards demise... I may not be alive when this happens but that is where everything is going."
Analysts note that the official campaign promoting the euro has been lacklustre, potentially leaving older residents in remote areas struggling to adapt. The ongoing political instability may further complicate the transition. Despite this, practical preparations are visibly underway in the capital. Shops across Sofia now display dual pricing, with costs for everything from fruit to wine shown in both lev and euros. Government-funded billboards showcase the fixed exchange rate alongside the slogan: "Common past. Common future. Common currency."
Business Benefits and a Seat at the Table
For many, the benefits are clear. "Not only older people but also all young people can easily travel using euros instead of having to exchange currency," noted another Sofia shopper, pensioner Veselina Apostolova. Cross-border businesses are particularly supportive. Natalia Gadjeva, owner of the Dragomir Estate Winery in the Thracian Valley, highlighted the operational efficiency: "For me, the most important thing is that all operations involving currency conversion and reissuing invoices in euros and then in levs will be eliminated."
Beyond the practicalities of new notes and coins, eurozone membership grants Bulgaria a seat on the European Central Bank's rate-setting Governing Council, integrating it more deeply into the core of EU economic policymaking. As the countdown to New Year's Day 2026 continues, Bulgaria embodies both the ambitions and the anxieties of further European integration.
