Bulgaria prepares to join the eurozone amid economic hopes and public concerns

Wednesday 31 December 2025 - 10:00

By: Sahili Aya

Bulgaria prepares to join the eurozone amid economic hopes and public concerns

Bulgaria is set to adopt the euro overnight from Wednesday to Thursday, becoming the 21st country to join the eurozone, a major milestone that has sparked both optimism and anxiety across the country.

At midnight, the Balkan nation of 6.4 million people will officially replace the lev, its national currency since the late 19th century, with the European single currency. Bulgarian authorities see the move as a way to stimulate economic growth, strengthen ties with Western Europe and reduce Russian influence, in a country that remains among the poorest in the European Union.

The transition comes, however, at a politically fragile moment. Recent anti-corruption protests have toppled a conservative coalition government that had been in power for less than a year, raising the prospect of yet another parliamentary election — the eighth in five years.

Outgoing Prime Minister Rossen Jeliazkov sought to reassure the public, citing strong economic indicators. Bulgaria is ending the year with a gross domestic product of €113 billion and economic growth exceeding 3%, placing it among the EU’s top five performers, he said. He also rejected claims that the euro would fuel inflation, attributing rising prices instead to increased purchasing power and improved governance.

Public unease remains widespread. Many Bulgarians fear that the euro will accelerate price increases, particularly for food, which rose by 5% year-on-year in November, according to official data. Long queues formed in Sofia on Tuesday outside banks and exchange offices as residents rushed to obtain euros, following warnings of potential disruptions to card payments and cash withdrawals during the transition.

Despite these concerns, some business owners remain hopeful. While acknowledging short-term difficulties, they expect the population to adapt quickly. According to the latest Eurobarometer survey, however, nearly half of Bulgarians remain opposed to adopting the euro, a sentiment that analysts say could be exploited by eurosceptic political forces in the coming months.