The European Commission confirmed that Bulgaria is set to adopt the euro as its national currency on January 1, 2026. This follows the publication of the 2025 Convergence Report on June 4, which stated that Bulgaria met the necessary criteria. Consequently, proposals were adopted for a Council Decision and regulations to include Bulgaria in the list of countries using the euro.
On July 8, 2025, based on recommendations from various EU bodies and favorable opinions from the European Parliament and European Central Bank, three legal acts were finalized by the Council. These include decisions on adopting the euro by Bulgaria, amending regulations related to its introduction in Bulgaria, and setting conversion rates.
Bulgaria will now enter a transition period to prepare for this changeover. Preparations involve dual pricing displays in lev and euro, organizing banknote distribution, adapting ATMs, monitoring prices, and supervising traders. The Commission will provide technical assistance during this phase.
The adoption of the euro is expected to bring numerous benefits to Bulgaria’s economy. Citizens will no longer face currency exchange fees within other eurozone countries, facilitating easier cross-border payments and boosting trade and tourism. Price transparency is also expected to increase competition among businesses.
For companies in Bulgaria, joining a larger single currency market should ease exports and attract customers across Europe. Access to finance could improve with increased foreign investment opportunities due to being part of a widely used currency area.
Bulgaria’s monetary policy has been linked with the euro since 1997 through mechanisms like Exchange Rate Mechanism II and Banking Union participation since 2020. Adopting the euro grants Bulgaria a seat at ECB decision-making bodies and involvement in Eurogroup discussions.
Historically speaking there might be slight inflation increases following such transitions; however measures are being taken under National Euro Changeover Plan involving business cooperation price monitoring consumer education etc., aiming towards minimal impact while stabilizing prices long-term.
All EU Member States except Denmark are legally committed toward joining but can choose their timeline individually according to readiness conditions laid out within respective Treaties Accession agreements signed upon entering union membership ranks post-euro launch era respectively years:2004/2007/2013
