The Euro in Bulgaria: Trust, Awareness, and Future Changes

The transition to the euro and its influence on trust in institutions was the main topic in an interview for BTA with the chairman of the Economic and Social Council (ESC), Zornitsa Rusinova. The interview came in connection with Bulgaria's upcoming adoption of the euro on January 1, 2026, a key moment for which the ESC is actively engaged in providing objective and reliable information.

According to Rusinova, efforts to inform citizens should lead to a significant improvement in trust in institutions. "I believe that the efforts will yield results and people will receive the necessary specific information," she pointed out. Society expects visible actions from institutions, especially regarding speculation and unscrupulous traders. Rusinova stressed the need for citizens to seek information from official sources and not to succumb to the disinformation that abounds on social networks.

A special section with questions and answers about the euro has been created on the ESC website. Rusinova pointed out that one of the first steps is to provide reassuring information, such as the fact that the replacement of the lev with the euro will be carried out at a fixed exchange rate - 1.95583 leva for one euro. She advises citizens not to rush with exchanging money before the date to avoid additional fees and commissions.

The chairman of the ESC noted that the most frequently asked questions are related to the prices of food products. "On this topic, it is also important for consumers themselves to be active and to report incorrect double price labeling, if any, or other irregularities," Rusinova added. The information campaign, in which the ESC is actively participating, aims to clarify that joining the Eurozone does not require re-signing service contracts. Rusinova reassures citizens that their savings will not be affected, refuting rumors circulating in the public space.

In their meetings with citizens, the ESC experts explain to pensioners that their pensions will continue to be paid in euros without any change in the amount. Older people are among the most vulnerable groups who need to receive special attention and support in this process, Rusinova emphasized.

Although Bulgarian businesses are well acquainted with the upcoming changes, small and medium-sized enterprises continue to ask practical questions. They are interested in working with cash registers and when to acquire euro banknotes and coins. Rusinova added that the Ministry of Interior, local authorities and the Bulgarian Post Office are also involved in the process of informing citizens. The work of the General Directorate for Combating Organized Crime regarding counterfeit euro banknotes is particularly helpful.

Rusinova stressed that similar situations have occurred in other countries, but the increased standard of living, the growth of incomes, and the development of businesses have led to positive results. She cited the Eurobarometer statistics, which show that the initial hesitant support of about 40% in Lithuania, Latvia, and Estonia when entering the Eurozone has increased to 80% in subsequent years. "I expect this to happen in Bulgaria as well," Rusinova pointed out, adding that Bulgarians are already familiar with euro banknotes.

It is important to note that the most important task for the government and the National Assembly is the preparation and adoption of the budget for the next year, which will be the first in euros. According to Rusinova, the readiness to adopt the euro is the result of an objective assessment by international financial institutions and Eurozone countries regarding the fulfillment of the criteria. Financial stability in the member states of the Eurozone is greater than those outside it.

The country's readiness is assessed through the convergence reports, which include criteria such as inflation and deficit. The European Central Bank and the European Commission also make a detailed assessment of technical readiness. Rusinova stressed that the banks have been prepared since 2020.

A discussion is also forthcoming on the next budget of the European Union, where Bulgaria will have a new role as a member of the Eurozone. Rusinova expressed hope that citizens will feel the positive changes.

By the end of the year, the ESC will analyze the topics related to the next EU budget. Negotiations are expected at the level of the European Council and the European Parliament. The ESC will monitor the cohesion policy, which supports the development of small settlements. The Common Agricultural Policy is also important for the ESC, as well as the Strategic Approach for the Black Sea, which should receive financial support because of the war in Ukraine.