Bulgaria is set to adopt the euro on 1 January, becoming the 21st member of the eurozone, as policymakers hope the move will boost the economy of the EU's poorest nation and cement its pro-western trajectory. The transition comes amid fresh domestic political turbulence and fears that Russian-aligned disinformation is deepening public distrust of the new currency.
European Commission President Ursula von der Leyen has said the euro will bring more trade, investment, and 'quality jobs and real incomes' to Bulgaria. Economy Commissioner Valdis Dombrovskis emphasised the importance of European unity during Russia's war with Ukraine, stating that most European countries are too small to shape today's world on their own and need to integrate fully into EU structures.
However, Bulgarians remain divided. A recent finance ministry survey found 51% in favour of joining the single currency, with 45% opposed. In June, a fight broke out in parliament when the euro entry was approved, with MPs from the far-right, pro-Russian Revival party blocking the podium. The country has been gripped by a four-year political crisis marked by seven parliamentary elections and widespread corruption, eroding trust in the government.
Many Bulgarians fear price spikes during the transition, with the average monthly salary around £1,100. Elderly pensioners, like Nencho and Maya Neshev from Vidin, worry about inflation and the impact on family budgets. Some, like engineer Elena Vasileva, fear losing national identity by abandoning the lev. Meanwhile, Victor Papazov, an economist advising the anti-EU Revival party, claimed Bulgaria could face a Greek-style crisis. Investigative reports have revealed a network of Russian-linked social media campaigns aimed at undermining support for the euro.
