Overview

• EU finance ministers formally adopted legal texts on July 8, granting final approval for Bulgaria to join the eurozone as its 21st member on January 1, 2026.
• The European Commission and European Central Bank certified in June that Bulgaria’s inflation, debt and deficit levels met the strict convergence criteria required for euro adoption.
• President Rumen Radev’s proposal for a referendum on the currency switch was rejected by the Bulgarian Parliament, removing a major hurdle to the transition.
• The fixed conversion rate of 1.95583 leva to the euro was established to anchor the changeover and guide businesses and consumers through the currency shift.
• Sustained protests in Sofia reflect deep public concern, with surveys indicating nearly half of Bulgarians fear the euro will drive up living costs.