Bulgaria has officially transitioned to the euro, becoming the 21st member of the eurozone nearly two decades after joining the European Union. The historic move, effective January 1, 2026, marks a significant milestone for the Balkan nation of 6.4 million people—the EU’s poorest member state.
The adoption ceremony witnessed the projection of Bulgarian euro coins onto the central bank’s building at midnight, symbolically retiring the lev currency that had been in circulation since the 19th century. European Central Bank President Christine Lagarde welcomed Bulgaria into the “euro family,” describing the currency as a “powerful symbol” of European unity and collective strength.
Despite governmental enthusiasm for the transition, which successive administrations have promoted as an economic catalyst and safeguard against Russian influence, the Bulgarian public remains deeply divided. Nearly half the population opposes the switch, according to recent Eurobarometer surveys, primarily fearing inflationary pressures and price increases that could exacerbate existing economic challenges.
The political backdrop adds complexity to the transition, with the country experiencing its eighth election in five years following anti-corruption protests that ousted a conservative-led government in mid-December. President Rumen Radev acknowledged the achievement as Bulgaria’s “final step” in EU integration while criticizing the lack of public consultation through referendum, highlighting the “deep divide between the political class and the people.”
Practical challenges have emerged during the transition, including reports of insufficient euro currency availability and concerns among business owners about inadequate preparation. The National Statistical Institute reports food prices rose 5% year-on-year in November—more than double the eurozone average—fueling public anxiety about further cost-of-living increases.
European Commission President Ursula von der Leyen emphasized the benefits of euro adoption, noting it would “facilitate trade, enhance market transparency and competitiveness, and simplify travel and living abroad.” The expansion brings the total number of Europeans using the euro to over 350 million, strengthening the currency’s global position.