BRUSSELS – July 7, 2025 – European Union Finance Ministers have approved the final steps for Bulgaria to become the 21st member of the Eurozone starting January 2026. This includes setting the conversion rate for the Bulgarian lev to the euro.
Conversion Rate and Preparation Timeline
Bulgaria will officially join the Eurozone on January 1, 2026, with a fixed exchange rate of 1 euro to 1.95583 lev. The nation now has less than six months to complete its technical preparations for the currency transition.
Last month, EU finance ministers formally endorsed Bulgaria’s Eurozone bid, based on positive assessments from the European Commission and the European Central Bank. This decision was further supported by EU leaders at a summit in Brussels on June 26. Bulgaria has been working towards adopting the euro since joining the EU in 2007.
Public Sentiment and Eurozone Expansion
Despite the long wait, initial enthusiasm among many Bulgarian citizens has waned, with skepticism about the euro reaching 50 percent, according to a Eurobarometer survey conducted in May. Some Bulgarians are concerned that the currency change will lead to price increases.
Bulgaria’s entry into the Eurozone marks its first expansion in three years, with Croatia being the last country to join at the beginning of 2023. With Bulgaria’s acceptance, only six out of 27 EU member states will remain outside the common currency area: Sweden, Poland, the Czech Republic, Hungary, Romania, and Denmark. None of these countries have immediate plans to join, either for political reasons or because they have not yet met the necessary economic conditions.
