Bulgaria is ready for a major challenge. Starting from January 1, 2026, Bulgaria is set to become the 21st member of the eurozone. Well, not so fast—this still requires formal approval from European leaders. Nevertheless, things are on track. In fact, the first step has already been taken: last week, EU finance ministers endorsed Bulgaria’s adoption of the euro.

Their support came after positive assessments from two key institutions—the European Commission and the European Central Bank (ECB)—which reviewed Bulgaria’s readiness to join the single currency union. The decision is expected to receive final approval from EU leaders at the summit in Brussels on Friday, June 27.

Back in 2007, when Bulgaria joined the European Union, it made significant efforts to adopt the common currency. However, public opinion in Bulgaria remains divided. According to a Eurobarometer survey conducted in May 2025, 50% of Bulgarians remain skeptical about the euro, while the other half welcomes the adoption of the shared currency. Some citizens are concerned that switching to the new currency might trigger another round of inflation.

As for the exchange rate from the Bulgarian lev to the euro, it will be set by the EU finance ministers, allowing Bulgaria time to adjust. The country will be granted a six-month technical preparation period, leading up to the full transition in 2026.