Bulgaria officially adopted the euro on January 1, becoming the 21st member of the eurozone despite public protests, political instability, and concerns over rising living costs. The move marked a major step in the country’s long path toward deeper European integration.
The Balkan nation joined the European Union in 2007 and entered the eurozone’s exchange rate mechanism, known as the “waiting room,” in 2020 alongside Croatia. After meeting all four Maastricht criteria, Bulgaria cleared the final hurdle for adopting the single currency. Officials confirmed that the country achieved price stability, maintained sound public finances, ensured exchange rate stability, and aligned long-term interest rates with eurozone standards.
Brussels and Sofia welcomed the transition as a historic milestone. European Commission President Ursula von der Leyen said the euro would promote trade, attract investment, and create quality jobs, strengthening Bulgaria’s economic resilience and EU ties.
Public Opinion Divided Over Euro Adoption
However, public opinion remains deeply divided. A recent Finance Ministry survey showed that 51 percent of Bulgarians support adopting the euro, while 45 percent oppose it. Opposition has intensified through protests led by the far-right Revival Party, which warned that the euro would fuel inflation and weaken national sovereignty.
In June, tensions escalated when lawmakers from the party blocked parliamentary proceedings, leading to scuffles during debates. Meanwhile, fears of price increases remain widespread, especially among low-income families, rural residents, and pensioners.
Economic Hopes Clash With Political Uncertainty
Bulgaria faces economic challenges as the EU’s poorest member state. With an average monthly salary of about €1,250 and GDP per capita 34 percent below the EU average, many citizens worry about absorbing higher costs. Nevertheless, EU institutions stressed that euro adoption does not cause lasting inflation and pledged safeguards such as dual price displays and stricter oversight.
Supporters argued the move would lower borrowing costs, improve credit ratings, and boost sectors like tourism. Still, analysts cautioned that ongoing political instability could limit benefits. In December, Prime Minister Rosen Zhelyazkov resigned amid anti-corruption protests, and new elections are expected in early 2026.
