Bulgaria to adopt euro in January 2026, ending use of national currency

Bulgaria will abandon its national currency, the lev, in use since 1885, and switch to the euro on January 1, 2026, becoming the 21st member of the eurozone.

The European Commission supported Bulgaria’s move, noting that the country meets all necessary economic criteria, including a stable economy, government debt below 60% of GDP, and low inflation, Caliber.Az reports, citing Le Figaro.

The transition comes 19 years after Bulgaria joined the EU and three years after Croatia adopted the euro.

Switching to the euro will simplify travel across Sofia, Plovdiv, and tourist areas, eliminating the need to exchange currency. 

However, locals fear potential price increases, as seen in Croatia, concerns heightened by the country’s economic vulnerability and a recent government resignation amid anti-corruption protests.

Before this transition, seven European Union member states had not yet adopted the euro and still used their own national currencies: Czechia, Denmark, Hungary, Poland, Romania, and Sweden, alongside Bulgaria. 

To adopt the euro, EU countries must satisfy the Maastricht (convergence) criteria, which include price stability (low inflation), sound public finances (deficit below 3% of GDP and debt below 60% of GDP), stable exchange rate participation in ERM II for at least two years, and convergent long‑term interest rates.

In addition to economic convergence, candidate states must align their national laws and central bank statutes with EU requirements so monetary policy can be transferred to the European Central Bank. The European Commission and ECB jointly assess compliance before the final decision by the EU Council.

By Jeyhun Aghazada