Bulgaria ready for the euro: from 2026 as the 21st eurozone member!

Bulgaria ready for the euro: from 2026 as the 21st eurozone member!

Bulgaria is about to take a historic step: on January 1, 2026, the country will introduce the euro as its official currency. Bulgaria will thus become the 21st member of the Eurozone after the EU Commission and the European Central Bank (ECB) confirmed compliance with the required stability criteria in spring 2025. That reported ADAC.

The fixed conversion rate is 1 euro = 1.95583 leva. After the introduction, the exchange of leva into euros will only be possible in Bulgaria. To ensure a smooth transition phase, it is planned that both currencies can be used in parallel for one month. From February 1, 2026, the lewa will lose its status as legal tender.

Political consent and economic conditions

The approval of Bulgaria's accession to the euro did not happen overnight. In June 2023, the European Commission and the EU heads of state and government had already given the green light. The EU finance ministers recently adopted the final necessary legal acts, which means that Bulgaria now meets all the necessary criteria, such as price stability and sound public finances. Finance Minister Temenushka Petkova emphasized the strategic nature of this decision and promised that Bulgaria would remain a “pillar of financial discipline.”

Denmark congratulated the Bulgarian people on this progress and highlighted the extensive preparation for joining the euro. Bulgaria had originally planned to introduce the euro at the beginning of 2024. However, this was postponed due to an inflation rate of 9.5 percent.

Social reactions and challenges

Despite the political approval, the situation in Bulgarian society is not without problems. Surveys show that only around half of the population is in favor of introducing the euro. Pro-Russian and nationalist groups have already organized protests in Sofia, suggesting divided opinion over joining the euro.

The Eurozone now includes 21 member states. Other countries will be added with Bulgaria, while the introduction of the euro in other countries such as Romania is not planned for 2029 at the earliest. The Czech Republic, Poland and Hungary have postponed their entry into the euro indefinitely. Denmark and Sweden rejected the introduction of the euro in referendums. In Europe, non-EU states such as Andorra, Monaco, San Marino and the Vatican, as well as Montenegro and Kosovo also use the euro.

The last euro adopter was Croatia, which made the switch on January 1, 2023. The stability of the Bulgarian leva, which has existed since the 1990s, is expected to be a positive indicator for the future euro. However, the path to the introduction of the euro is associated with political and social challenges that must be overcome.