Bulgaria is preparing for the euro: amidst uncertainty and confusion

From January 1st Bulgaria will adopt the euro and many traders have already decided to display prices in leverage and in the new community currency.

Bulgaria will thus become the 21st member of the currency area, almost 19 years after the country of 6.4 million inhabitants joined the European Union.

The country’s political uncertainty does not help this epochal transition which is generating a lot of confusion among consumers, accustomed to a weak currency on the market, fearing a general increase in prices and speculation among some. Over the past 10 years, Bulgaria’s GDP has risen from around a third of the eurozone average to almost two-thirds of it today. However, according to data from the Statistical Office of the European Union (Eurostat), Bulgaria remains the EU country with the highest percentage of people at risk of poverty or social exclusion.

According to the National Institute of Statistics, in November food prices increased by 5% on an annual basis, more than double the eurozone average, with significant effects on the shopping cart.

ECB, historic stage for the country

Bulgaria will join the euro area on 1 January 2026. It is a historic stage for the country and an important opportunity for citizens and businesses in the euro area. The transition will lead to greater economic stability, easier transactions and stronger integration across Europe. For Bulgaria, the adoption of the euro will help lay a more solid foundation for long-term growth and resilience. This is what we read in a note published on the ECB website.

“The change may raise questions and concerns. However, the ECB and national authorities are working closely together to ensure that the transition goes smoothly for everyone, with careful planning and a strong focus on price stability.”

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