Bulgaria before introducing the euro: Waiting for the decision 2026!

Bulgaria before introducing the euro: Waiting for the decision 2026!

Bulgarien, Land - Bulgaria plans to introduce the euro as an official currency from January 1, 2026. This decision comes after years of discussion and a variety of economic challenges. The Bulgarian government sees the introduction of the euro a possibility of economic improvement and wants to use the advantages for tourism. The Bulgarian Lew is currently coupled with the euro, a fact that makes it easier for the population to prepare for the change. The course is 1 euro to 1,95583 Lewa.

Originally, the introduction of the euro was planned for 2024, but high inflation rates, which were 9.5 percent at the end of 2024, led to the shift in the accession. According to the EU Commission, an inflation forecast for 2023 is expected of 3.6 percent, with a further reduction to 1.8 percent by 2026. These are positive signals for the economic stability of Bulgia, which are crucial for the euro accession. However, Bulgaria still has the lowest GDP per capita in the EU, 34 percent below average, which must also be taken into account when planning.

economic requirements and challenges

The criteria for accession to the euro zone are subject to strict requirements: price stability, solid public finances and stable exchange rates. Citizens and critics in Bulgaria, such as the Prorussian Party of Wasraschdane, express concerns and warn of a possible price shock after the introduction of the euro. President Rumen Radew questioned the plans for 2026 and demands more measures against potential price increases.

Opinions in the population are divided: According to surveys, 33.4 percent believe in the advantages of the euro, while 32.9 percent fear disadvantages. However, in order to benefit from the economic advantages, the government of Bulgaria expects the convergence report, which was requested on February 25, 2025 to the European Central Bank (ECB), the necessary basis for the introduction of the euro.

effects on tourism and travel

The raising of the euro will also bring numerous advantages for tourists. Travelers from the euro area no longer have to worry about the currency change, which means that exchange fees and exchange rate risks are eliminated. Prices in euros should ensure full price transparency. After the introduction, there will be a transition period during which both euros and Lewa are accepted. After that, only the euro will be valid.

The European Central Bank emphasized in a current report that the progress in the introduction of the euro in Bulgaria is continuously monitored. The convergence report 2024 not only evaluates Bulgaria, but also other EU countries such as the Czech Republic and Hungary, to determine which of them are able to fully meet the euro criteria. Five of the six countries examined, including Bulgaria, still have to overcome hurdles.

The next few months will be decisive. To expect a positive assessment of the convergence report, Bulgaria could make the 21st member of the euro zone and pave the way for permanent economic stability.

While the challenge of inflation and other economic uncertainties remains, the Bulgarian euro introduction remains an exciting project that the country could lead to a new economic era, and progress is accompanied by both the ECB and the EU Commission.

For more information, please visit the articles on bnn.de , OEAMTC.AT and the official press release of the Ezb .