Bulgaria Officially Adopts Euro Amidst Mixed Reactions

Thu Jan 01 2026 13:04:37 GMT+0200 (Eastern European Standard Time)

Bulgaria has become the 21st member of the eurozone, marking a significant milestone amidst varied sentiments among its population regarding the currency transition.

Bulgaria has officially joined the eurozone, becoming the 21st country to adopt the euro as its official currency. The transition from the Bulgarian lev, used since 1881, comes amidst political turmoil and mixed reactions from the public. While many younger, urban citizens view the euro as a step towards economic integration, older and rural populations express fears of losing national identity and financial stability. The transition will see prices displayed in both lev and euros until February 1, 2026, when only the euro will be accepted.

Bulgaria - the poorest country in the European Union - has become the 21st member of the eurozone - leapfrogging more obvious and prosperous candidates like Poland, the Czech Republic and Hungary.

For mostly urban, young and entrepreneurial Bulgarians, it's an optimistic and potentially lucrative leap - the final move in a game which has brought Bulgaria into the European mainstream - from NATO and EU membership, to joining the Schengen zone, and now the euro.

For the older, rural, more conservative parts of the population, the replacement of the Bulgarian lev by the euro provokes fear and resentment.

The lev - meaning lion - has been the Bulgarian currency since 1881, but it has been pegged to other European currencies since 1997 - first the Deutschmark, then the euro.

Opinion polls put Bulgaria's 6.5 million population more or less equally divided on the new currency, and political turmoil is not making the transition easy.

Prime Minister Rosen Zhelyazkov's coalition government lost a confidence vote on 11 December, after mass protests against the 2026 budget. Bulgaria has held seven elections in the past four years - an eighth looks likely early next year.

I don't want the euro, and I don't like the way it has been imposed on us, Todor, a small business owner in the central town of Gabrovo, told the BBC.

A referendum on euro adoption was proposed by President Rumen Radev but rejected by the outgoing government.

Many shopkeepers are ready for the new currency, with prices displayed in both lev and euros. The transition period lasts until February 1, 2026, when only the euro will be accepted.

Throughout January, you can pay in both lev and euros, but change is supposed to be in euros. Many, including shopkeepers, are optimistic that joining the single currency will improve trade and economic stability.

The design of the new euro coins incorporates Bulgarian symbols to reassure the public of maintaining their national identity.

The transition to the euro raises concerns about potential impacts on the economy, drawing comparisons to successful models in other Baltic states versus the stagnation seen in Italy.