Bulgaria welcomes the euro: hopes and fears about the currency change!

Bulgaria welcomes the euro: hopes and fears about the currency change!

On January 1, 2026, Bulgaria abolished the lev and introduced the euro as its official currency. The country is now the 21st member of the Eurozone. The fixed exchange rate of 1.95583 lev per euro has been set, which promises initial planning for a smooth transition. This launch is primarily intended to boost tourism and facilitate business for Bulgarian manufacturers in trade with Europe and the world. A big advantage for holidaymakers is immediately noticeable: currency exchange and additional fees are eliminated, prices can be easily compared and card payments can be processed easily, like Schwarzwälder Bote reported.

But not everything is idle bliss. Many Bulgarians are skeptical and fear that the currency change could lead to price increases. A survey sounds the alarm: over half of the population rejects the introduction of the euro. President Rumen Radev calls for more democracy and criticizes the lack of a referendum. However, his request was rejected by the pro-Western parliamentary majority.

Economic challenges and opportunities

Bulgaria is currently the poorest country in the European Union, but has experienced stable economic development over the last two decades and has overcome various crises, such as the global financial crisis of 2008 and the corona pandemic, largely without external help, as Tagesschau notes. However, the latest government resigned after massive protests against corrupt practices and controversial budget proposals.

The gross average wage in Bulgaria is 1,300 euros per month, which is low compared to other EU countries. Despite the political instability that has resulted in seven parliamentary elections in the last four and a half years, the business world sees joining the euro as an opportunity for more investment and a strengthening of the economy. “In the long term, Bulgaria hopes that the introduction of the euro will provide a more stable currency and greater market connections,” says economic expert Ruslan Stefanov.

Political uncertainty and public protests

Despite these positive outlooks, a critical political landscape is weighing on the country. Corruption permeates the Bulgarian justice system and many citizens feel powerless. The right-wing extremist Vazrazhdane party is already organizing protests against the introduction of the euro and warning of rising costs of living. Top party representatives are calling for more transparency and responsibility from the government.

Due to this mixed situation, the coming days, which have been declared as public holidays, bridge days and weekends, could represent both a recovery phase and a time for rethinking and reorientation in Bulgarian politics. January 5, 2026 will be the first official day of business with the euro, and the eyes of the world are on Bulgaria.