Bulgaria will adopt the euro on Jan. 1, retiring the lev and joining the eurozone as its 21st member in a move that promises deeper integration with the European Union and a seat at the European Central Bank’s rate-setting table. The long-awaited shift, two years after Croatia’s entry, will extend the common currency to more than 350 million people.
Authorities say Bulgaria met the formal entry criteria this year, including targets on inflation, budget deficit, long-term borrowing costs and exchange-rate stability. The transition, however, is unfolding amid mixed public sentiment and political turbulence at home, underscoring both the promise and the pressure that accompany euro adoption.
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Across Sofia this week, banks, shops and restaurants displayed prices in both levs and euros, a visible rehearsal for the changeover. Government-funded billboards show the euro-to-lev conversion rate and the message: “Common past. Common future. Common currency.” Television ads have reinforced what officials frame as a natural next step in Bulgaria’s EU journey.
For businesses that trade across borders, the euro is a welcome simplification. “For me, the most important thing is that all operations involving currency conversion and reissuing invoices in euros and then in levs will be eliminated,” said Natalia Gadjeva, owner of the Dragomir Estate Winery in the Thracian Valley. Retailers and service providers say dual pricing and back-end system updates are largely in place.
Some consumers also see benefits. “Not only older people but also all young people can easily travel using euros instead of having to exchange currency,” said Sofia pensioner Veselina Apostovlova while shopping in the capital.
But skepticism runs deep in parts of the country, particularly among older Bulgarians and those wary of ceding another emblem of sovereignty. “I am against it, first because the lev is our national currency,” said Sofia pensioner Emil Ivanov. “Secondly, Europe is heading towards demise, which even the American president (Donald Trump) mentioned in the new national security strategy. I may not be alive when this (the EU’s demise) happens but that is where everything is going.”
Analysts say official messaging has struggled to reach remote areas and to address concerns that the euro will spur price increases—fears that accompanied previous changeovers elsewhere in the bloc. They warn that the absence of a stable government could complicate the final weeks of the transition. The current political crisis saw the government step down this month after protests against proposed tax increases, sharpening doubts about the timing and stewardship of the shift.
Authorities and consumer groups have sought to reassure shoppers that conversion rules and dual-display requirements will help keep pricing transparent and curb opportunistic markups. Businesses face penalties for abuse, and the central bank has stressed continuity as euro notes and coins replace the lev in circulation.
Beyond daily transactions, euro membership carries institutional weight. Bulgaria will gain a vote on interest-rate decisions at the ECB’s Governing Council and greater integration with Europe’s financial architecture. Supporters argue that deeper credibility and lower financing costs will outweigh the loss of independent monetary policy in a country that has long tied the lev to the euro through a currency board.
For now, the practical work continues. Banks are adjusting ATMs and payments systems; retailers are training staff on conversion protocols; and a nation accustomed to thinking in levs is preparing to count in euros. With Jan. 1 approaching, Bulgaria stands on the threshold of a new economic chapter—one many see as overdue, and others view with caution.
By Abdiwahab Ahmed
Axadle Times international–Monitoring.
