From January 1, Bulgaria officially abandoned the lev and adopted the common European currency - the euro.
With this move, the country completed nearly 19 years of integration and became the 21st member of the eurozone, DKNews.kz reports.
For Bulgaria, this is not just new banknotes. It is a shift in the economic model, business rules, and investor expectations.
How the transition happened
Bulgaria has been an EU member since January 1, 2007.
The final stage included reforms to:
- curb inflation
- stabilize public finances
- align laws with eurozone standards
The conversion rate is fixed permanently:
1 euro = 1.95583 Bulgarian leva
During the transition period, prices are shown in both currencies - to avoid confusion and prevent hidden price hikes.
The EU Council approved the decision last summer, and it took effect on January 1, 2026.
What Bulgaria gains
Experts point to several key benefits.
Access to cheaper money
Loan and borrowing rates usually fall. That:
- encourages investment
- boosts infrastructure and construction
- makes mortgages more affordable
More investor confidence
The euro means:
- currency stability
- fewer exchange risks
- clearer rules
Convenience for people and tourists
- no exchange fees
- easier payments
- clearer prices compared with the EU
But there are risks
Switching to the euro is not instant growth.
Risk of “hidden price increases”
Some retailers round prices upward. Authorities tightened controls and penalties.
Loss of independent monetary policy
Rates are now set by the ECB - Bulgaria has fewer tools of its own.
Stricter financial discipline
Deficits and debt will be monitored more closely.
A broader EU signal
By 2025, the EU announced no financial aid for Georgia, after freezing over €120 million earlier.
This shows:
Brussels is linking money - to reforms and accountability.
Against this backdrop, Bulgaria’s entry looks like recognition for long, disciplined preparation.
For citizens - more stability.
For business - lower risk.
For the EU - deeper integration.
And the message is clear:
The road to the euro is open - but it requires discipline and reform.
