The move comes nearly two decades after the Balkan country joined the European Union, amid a clash between hopes for stability and fears of rising prices.
Published January 1, 2026
Bulgaria has officially adopted the euro, becoming the 21st country to join the single currency nearly 20 years after joining the European Union, a move that has caused both celebration and anxiety.
At midnight on Wednesday (22:00 GMT), the Balkan nation abandoned the lev, which had been its currency since the late 19th century.
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An image of a Bulgarian euro coin was lit up at the central bank’s headquarters in Sofia as crowds gathered to celebrate the new year in sub-zero temperatures.
European Central Bank President Christine Lagarde said: “We warmly welcome Bulgaria to join the euro family.”
Some residents welcomed the change with optimism. “Wow! It worked!” Dimitar, 43, told The Associated Press after withdrawing 100 euros from a cash machine just after midnight.
Successive Bulgarian governments have supported the euro, arguing it would strengthen the country’s fragile economy, entrench it more firmly within Western institutions and protect it from what authorities call Russian influence. Bulgaria, with a population of around 6.4 million, remains the poorest of the EU member states.
divided public
But public opinion has long remained divided. Many Bulgarians fear the euro will raise prices, stagnate wages and worsen living standards in a country already suffering from political instability.
President Rumen Radev said in a televised address just before midnight that the euro was the “final step” in Bulgaria’s EU integration.
However, he criticized the lack of a referendum on the decision.
“This refusal is one of the dramatic manifestations of the deep rift between the political class and the people, confirmed by mass demonstrations across the country,” Radev said.
Bulgaria has recently experienced further uncertainty after anti-corruption protests toppled a conservative-led government in December, pushing the country toward its eighth election in five years.
“People are worried that prices will go up even though their salaries will remain the same,” a woman in her 40s told AFP news agency in Sofia.
In the city’s markets, sellers displayed prices in both levs and euros. Not everyone was worried.
“The whole of Europe got by with the euro, we’ll get by too,” said Vlad, a retiree.
