Bulgaria's Euro Adoption: Stable Prices Emerge as Key Success

Bulgaria officially adopted the euro on January 1, becoming the 21st member of the eurozone and replacing the Bulgarian lev. The transition was largely smooth, as the lev had been pegged to the euro since 1997, maintaining a stable exchange rate of 1 euro to 1.95583 lev for over two decades.

Public sentiment towards the euro has been largely positive, with surveys indicating growing support. A January poll showed over 50% approval, which rose to 54% a month later. A subsequent Standard Eurobarometer study in March and April revealed 55% support, with 39% opposed. This positive perception marks a 13-point increase from autumn 2025, suggesting that practical experience with the new currency has been a pleasant surprise for Bulgarians.

Dimitar Zlatinov, head of economics at Sofia University, confirmed these observations, noting that people are using the euro with ease. He also pointed out that political tensions surrounding the euro's adoption as a geopolitical decision have subsided, contributing to increased public approval. However, a European Commission survey from February 2026 showed slightly less enthusiasm, with 49% viewing the euro as beneficial and 43% as detrimental.

Despite some mixed survey results, the transition has been widely described as "smooth and efficient," with 62% of respondents in one study calling it so. A significant 78% also felt "well-informed" about the change. This positive reception is likely linked to the minimal price fluctuations observed. Consumers had feared that businesses would use the currency change as a pretext to raise prices, but the National Statistical Institute reported record-low price increases in the first three months after the euro's introduction. While inflation was above 5% in the latter half of 2025, it dropped to 3.5% in January, 3.3% in February, and 4.1% in March after the euro's adoption. A more noticeable price hike occurred in the second quarter (5.4-6.9%), but by July, the rate of price increase had fallen again below 2025 levels.

“

People are using the euro with no major difficulties. Political tensions related to the claim that adopting the euro was a geopolitical decision have also weakened. This has contributed to the increase in support for the euro.