Bulgaria has one foot in the eurozone. And the nation is almost evenly divided.

Bulgaria is preparing to abandon the lev, the country's currency since the late 19th century, in favor of the euro. The public is almost evenly divided between supporters and opponents of the EU currency, and its expected introduction in early 2026 is being accompanied by a disinformation campaign.

In July, the European Parliament adopted a report confirming that Bulgaria meets the criteria for adopting the EU currency on January 1, 2026. Bulgaria will become the 21st member of the eurozone. The last country to join was Croatia in 2023.

“We did it!” wrote Bulgarian Prime Minister Rosen Zhelazkov on X in a commentary on the vote.

However, the issue of abandoning their own currency in favor of the common euro is stirring conflicting emotions in Bulgaria. A July survey by Alpha Research showed that 46.5% of Bulgarians support adopting the euro, while 46.8% oppose it.

Bulgarians are expressing concern about rising prices and a decline in purchasing power following the euro transition. According to Eurostat data, 30% of the Bulgarian population lives below the poverty line—the highest rate in the EU . Some skeptics also fear a loss of national identity. These fears are fueled by anti-European and pro-Russian narratives.

Protesters have been gathering in Sofia since June, demanding the retention of the lev. President Rumen Radev called for a referendum on the issue, but parliament rejected the proposal.

Three nationalist parties – Rebirth, Sword, and Majesty – strongly oppose adopting the euro . These parties view the left as Sofia's last remaining tool, granting it some independence from Brussels. These politicians claim that the government has manipulated data to meet the convergence criteria.

The parties are also responsible for disinformation regarding the adoption of the EU currency. Rada Laikova, a member of the European Parliament representing the Renaissance party, claimed in April that Europe could attempt to seize Bulgarians' money from their personal savings accounts and pensions if they fail to spend it within a certain timeframe. The MEP added that the EU is also considering using these funds to finance military projects.

Revival leader Kostadin Kostadinov claimed that after Bulgaria joined the eurozone , citizens would lose their savings due to the introduction of a "different exchange rate" than the current one. The Bulgarian parliament passed a law on the introduction of the euro, which established a fixed exchange rate and froze interest rates on loans.

"I very much hope that pro-European forces will be able to unite and ensure stability to facilitate a smooth adoption of the euro in Bulgaria," Eva Maydell said in an interview with Euronews in July. Maydell is an MEP and rapporteur on the report recommending Bulgaria adopt the single currency. "There is another problem: the manipulation of public opinion by some politicians, including the president, who are exploiting public fears by proposing measures that are contrary to the constitution," Maydell added.

As part of the preparations for adopting the new currency, product prices in Bulgaria will be required to be displayed in both leva and euro starting August 8th. This same rule will apply for 12 months following the official adoption of the euro. Methody Metodiev, Bulgaria's Deputy Finance Minister, announced in late July that local governments are "almost ready" to switch to the euro in October.

The deputy minister also announced that over 90 percent of banks in Bulgaria are ready for the "logistically demanding process of introducing the euro." Metodiev noted that the transition will be facilitated by the fact that most ATMs in Bulgaria are relatively modern and allow the use of two currencies.

The politician also announced consultations with the Ministry of Internal Affairs, which will send security officers to the streets of Bulgarian cities to ensure that the currency changeover process runs smoothly and without counterfeiting attempts.

Stanislav Popdonchev, vice-president of the Bulgarian Industrial Association, warned in late July that only 35% of the country's cash registers are euro-compatible, prompting dozens of companies to request a postponement of the upgrade. The deadline for updating all fiscal devices to support the euro is August 8th.

According to Popdonchev, this is not a technical problem, and the inability to meet deadlines is due to the summer period and the increased number of holidays.

Jakub Bawołek (PAP)

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