Bulgaria will adopt the euro on January 1, 2026, aiming for stronger economic growth and higher living standards, Prime Minister Rosen Zhelyazkov announced following the European Commission’s approval.

Prime Minister Rosen Zhelyazkov confirmed on Thursday that Bulgaria will officially join the euro zone on January 1, 2026, following the European Commission’s approval of the country's accession request.

Speaking in Sofia after meeting with European Union Commissioner for the Economy Valdis Dombrovskis, Zhelyazkov said the move will enhance Bulgaria’s economic growth and improve purchasing power.

“The accession to the euro area will guarantee better growth, better purchasing power for the people. This means better convergence with the European living standards,” he said.

Bulgaria, which joined the EU in 2007, will become the 21st country to adopt the euro. However, the announcement has sparked concerns about potential price hikes, as seen in other euro zone entrants.

Addressing these fears, Zhelyazkov said his government is implementing awareness campaigns and transparency measures to protect vulnerable populations, especially the elderly.

“There will be no tight deadline and no commission fees for converting savings from the lev to the euro,” he assured. “We will avoid the hastiness.”

The lev-to-euro conversion will be carried out at a fixed exchange rate, monitored by market regulators to prevent unjustified price increases.

With an average monthly salary of 2,443 leva (about $1,421), Bulgaria remains the EU’s poorest member state. The government hopes euro adoption will accelerate economic alignment with wealthier EU nations.

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