Starting January 1, Bulgaria officially utilized the euro as its primary currency, officially becoming the 21st member of the eurozone. This momentous change took place on January 1, 2026 – almost twenty years since the nation became a member in good standing of the European Union. Bulgaria’s accession to the euro has sparked jubilation throughout the country. Yet it has infused panic in most Bulgarians, inciting fear over inflation and its expected effects on their standard of living.
Bulgaria’s roughly 6.4 million inhabitants are now living in this new economic reality. As the poorest member of the EU, Bulgaria’s successive governments have advocated for euro adoption, asserting that it would strengthen the nation’s fragile economy. This effort has been credited with the move to deepen Bulgaria’s integration into Western institutions. It further serves as a bulwark against the spread of Russian malign influence.
Celebrations and Concerns
The upcoming adoption of the euro and euro-zone has thus far been well received throughout the country. Many of its citizens rejoiced at the change, seeing it as one step closer towards becoming fully integrated into the European Union. There is a real feeling out there of concern among the watchful that something bad will happen, and price increases will be apropos.
A woman in her 40s expressed her concerns, stating, > “People are afraid that prices will rise, while salaries will remain the same.”
In fact, this fear of appreciating prices along with reverse wage growth has only fueled fears of falling living standards in Bulgaria. On December 31, 2025, precisely at midnight, Bulgaria celebrated its official switch-over from the lev to the euro. Even Bulgaria’s central bank headquarters in Sofia decked out the building with giant images of the newly minted euro coins to help celebrate this important milestone.
Official Endorsements
European Central Bank President Christine Lagarde greeted Bulgaria on its admission to the eurozone, citing high hopes for its future.
“I warmly welcome Bulgaria to the euro family,” she stated, highlighting the significance of this transition for both Bulgaria and the broader European community.
Bulgaria’s President Rumen Radev welcomed the decision. It was touted as the “final and last step” for Bulgaria’s integration into the EU by prime minister Kiril Petkov. Some of the sentiments expressed above will sound familiar to many who consider the euro to have provided a new avenue toward greater economic stability and prosperity.
Looking Ahead
Despite the ambivalence about this momentous change, many Bulgarians are optimistic about what euro adoption could bring. Vlad, one of the new neighborhood’s local residents, told me about his impressions of this dramatic change.
“The whole of Europe has managed with the euro, we’ll manage too,” he said, reflecting a belief in Bulgaria’s capacity to adapt to its new currency.
Bulgaria is just beginning an exciting journey with the euro. The federal government and Americans will remain vigilant for economic undercurrents and do everything we can to overcome the obstacles that accompany this transition.
