Bulgaria to Adopt Euro in 2026 Amid Mixed Public Reactions

Bulgaria is poised to adopt the euro as its official currency, becoming the 21st member of the Eurozone on January 1, 2026. This decision follows a series of approvals from EU finance ministers, who have recently finalized the necessary legal frameworks to facilitate the transition. The established exchange rate will be fixed at 1.95583 Bulgarian lev per euro, providing a clear and stable basis for the currency change.

The move to the euro is seen as a significant milestone for Bulgaria, which has faced challenges related to political instability in the past. However, the country has successfully met the stringent criteria required for Eurozone accession, paving the way for enhanced economic integration and increased trade opportunities. Despite these advances, the decision has sparked mixed reactions among the Bulgarian populace, with only about half in favor of the euro's adoption.

Concerns have been raised by some nationalist and pro-Russian groups, leading to protests against the currency shift. Nevertheless, the Bulgarian finance minister has framed the euro adoption as a strategic goal aimed at fostering economic growth and stability.

In addition to Bulgaria's euro accession, the EU finance ministers are also expected to address other pressing issues, including potential deficit procedures for Austria and the economic repercussions of the ongoing conflict in Ukraine. This meeting underscores the broader economic challenges facing the European Union as it navigates complex geopolitical dynamics.