From 1 January 2026, Bulgaria will become the 21st state to adopt the euro, but some in the country believe the move could lead to higher prices and increase instability in what is already the EU’s poorest country.
Supporters insist instead that the single currency will boost the economy, strengthen ties with the West and protect against Russian influence. The last country to join the euro – introduced for the first time in 12 states on 1 January 2002 – was Croatia in 2023.
According to the latest Eurobarometer survey, 49% of Bulgarians are against it. After the hyperinflation of the 1990s, Bulgaria pegged its currency to the German mark and then to the euro, making the country dependent on the ECB. Member of the EU since 2007, Bulgaria therefore entered the so-called “waiting room” of the single currency in 2020, at the same time as Croatia.