The move comes almost two decades after the Balkan country joined the EU, as hope for stability collides with fear of rising prices.
Published January 1, 2026
Bulgaria has officially adopted the euro, becoming the 21st country to join the single currency nearly two decades after joining the European Union, a move that has sparked both celebration and anxiety.
At midnight on Wednesday (22:00 GMT), the Balkan country abandoned the lev, its national currency since the late 19th century.
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Images of Bulgarian euro coins illuminated the central bank headquarters in Sofia as crowds gathered in freezing temperatures to celebrate the new year.
“I warmly welcome Bulgaria to the euro family,” said Christine Lagarde, president of the European Central Bank.
Some residents welcomed the change with optimism. “Great! It works!” said Dimitar, 43, speaking to The Associated Press after withdrawing 100 euros from an ATM shortly after midnight.
Successive Bulgarian governments have backed adoption of the euro, arguing it would strengthen the country's fragile economy, anchor it more firmly within Western institutions and protect it from what officials describe as Russian influence. Bulgaria, with a population of around 6.4 million, remains the poorest member of the EU.
Divided public
However, public opinion has long been divided. Many Bulgarians fear that the euro will drive up prices while wages stagnate, worsening living standards in a country already struggling with political instability.
In a televised speech before midnight, President Rumen Radev described the euro as the “final step” in Bulgaria's integration into the EU.
However, he criticized the absence of a public referendum on the decision.
“This refusal was one of the dramatic symptoms of the deep division between the political class and the people, confirmed by massive demonstrations throughout the country,” Radev said.
Bulgaria recently plunged into greater uncertainty after anti-corruption protests toppled a conservative-led government in December, pushing the country toward its eighth elections in five years.
“People are afraid that prices will rise and salaries will remain the same,” a woman in her 40s told the AFP news agency in Sofia.
In the city markets, sellers indicated prices in both levs and euros. Not everyone was worried.
“All of Europe has managed with the euro, we will cope too,” said the retiree Vlad.
