Bulgaria in the Eurozone: 100 Days to a Historic Moment

One hundred days separate us from a historic moment: Bulgaria is on the verge of joining the eurozone, announced the President of the European Central Bank (ECB) Christine Lagarde in a Facebook post. On January 1, 2026, our country will join the 21 countries using the euro, a step that, according to Lagarde, will bring greater economic stability to Bulgaria, as well as obvious benefits for citizens, businesses, and banks.

A detailed explanation of the significance of this transition for Bulgaria and the eurozone as a whole is prominently published on the ECB"s website. The European Central Bank emphasizes that joining is not only a historic moment for Bulgaria but also a significant opportunity for everyone in the eurozone. The transition to the euro is presented as a key factor for greater economic stability, more efficient transactions, and stronger European integration. For Bulgaria, this means building a more solid foundation for long-term growth and sustainability.

The ECB emphasizes close cooperation with Bulgarian national authorities to ensure a smooth transition. The focus is on precise planning, with particular attention to maintaining price stability. All efforts are aimed at minimizing any potential negative consequences for Bulgarian citizens.

Explaining the importance of the euro for Bulgaria and the entire eurozone, the ECB highlights the benefits of a more resilient economy, stronger European integration, and common economic growth. The euro is presented as a stable and reliable currency unit, guaranteeing the security of savings and purchasing power. Membership in the eurozone will give Bulgaria a voice in determining the future of the common currency, participation in decision-making, and greater opportunities for growth, trade, and investment. In the context of geopolitical uncertainty, the expansion of the eurozone is interpreted by the ECB as a message of unity and solidarity. Each new membership further strengthens the financial stability of the eurozone and is evidence of the progress of European integration.

The officially announced exchange rate is 1.95583 leva for 1 euro. The ECB acknowledges the possibility of temporary price increases at the beginning of the transition, caused by potential unscrupulous behavior of retailers, but assures that Bulgaria has effective measures and mechanisms to prevent this. To ensure transparency, all prices will be expressed in both leva and euro in the months before and after the transition to the euro, allowing consumers to monitor the correctness of the recalculation. Strict control by national authorities, as well as the strict application of the exchange rate, is a guarantee of protection for Bulgarian citizens from unjustified price increases, the announcement emphasizes.

Bulgarian banks will gain access to liquidity from the ECB, which will allow them to provide loans more efficiently, process payments, and guarantee the security of withdrawals. This will lead to a more stable banking system and will increase citizens" trust in the security of their savings. The elimination of recalculation costs in transactions with eurozone partners will remove significant barriers and improve the competitiveness of Bulgarian businesses in the international market.

Interest rates in Bulgaria will be determined directly by the decisions of the ECB"s Governing Council, taking into account the economic conditions in the eurozone. The Governor of the Bulgarian National Bank will become a full member of the ECB"s Governing Council. This will give Bulgaria significant influence in determining the monetary policy of the eurozone. The transition to the euro is expected to be smooth and organized, but expectations are associated with significant economic and political consequences, the successful implementation of which requires coordinated action from all institutions.