European Commission gives Bulgaria green light to use euro

The European Commission on Wednesday gave Bulgaria the green light to use the euro, with the government in Sofia aiming to introduce the common currency in January 2026.

A commission report concluded that, after reducing inflation, Bulgaria now fulfils all the requirements for becoming the 21st European Union country to use the euro.

“The euro is a tangible symbol of European strength and unity,” said European Commission President Ursula von der Leyen.

“Thanks to the euro, Bulgaria’s economy will become stronger, with more trade with euro area partners, foreign direct investment, access to finance, quality jobs and real incomes,” she said.

Bulgaria has been a member of the European Union since 2007 and had previously planned to replace its national currency, the lev, with the euro in 2024.

However, the move was postponed due to the country’s high inflation rate of 9.5 percent at the time.

Fellow EU countries and the European Parliament still have to give their consent.

According to the EU treaties, all EU member states with the exception of Denmark are obliged to join the eurozone as soon as they fulfil the requirements.

Apart from Bulgaria, Poland, Romania, Sweden, the Czech Republic and Hungary have yet to introduce the single currency.

In Bulgaria, the possible introduction of the euro has been accompanied by fierce protests.

On Saturday supporters of pro-Russian and nationalist parties demonstrated against adoption of the euro in Sofia and in other cities.

According to an opinion poll conducted by the Bulgarian Mjara institute in May, more than half of adults (54.9 percent) are against the introduction of the euro in 2026, while 34.4 percent are in favour of joining.