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Bulgaria is approaching the adoption of the euro currency, amid ongoing public debate and concerns
- Bulgaria is close to adopting the euro as its currency, aiming to join the eurozone on January 1, 2026, with final EU approval pending.
- This move follows Bulgaria's long EU membership since 2007 and joining the Exchange Rate Mechanism in 2020, despite political instability and corruption fueling euroscepticism.
- Thousands protested in Sofia and other cities, driven by fears of inflation, economic harm, and disinformation campaigns pushed by nationalist and pro-Russian parties.
- A Eurobarometer survey found that half of Bulgarians are opposed to adopting the euro, while experts indicate that any inflation resulting from the currency switch would likely be minimal—generally under 1%—and that Bulgaria’s disciplined fiscal policies mean it poses virtually no financial threat to the broader eurozone.
- Despite societal tensions, the government intends to proceed with euro adoption, expecting benefits like lower borrowing costs and deeper European integration.
134 Articles
134 Articles
According to the European Commission and the ECB, Bulgaria fulfils criteria for the introduction of the euro after "violent engagement". The integration of the Balkan state is motivated by geostrategic motives. Critics fear a price explosion.
The economist, author of the reform that linked the levy to the single currency, criticizes the choice to join the EU currency since 2026: “So far Sofia has maintained sovereignty. Why get trapped in a club with an uncertain future?” “Why should Bulgaria try to fix something that isn't red...
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Bulgaria has taken important steps towards the adoption of the euro currency, and the final decision on entry into the euro area will be taken on 8 July by the European Council for Economic and Financial Affairs (ECOFIN). If the budget will be favourable, Bulgaria will introduce the euro by 1 January 2026, the official exchange rate has already been set at 1,95583 euros for 1 euro.
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- 44% of the sources are Center
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