Name: Bulgaria to become 21st country to join euro
Uploaded: 2025-12-31T16:15:27.283Z
Duration: 1 min 46 s
Description: On New Year’s Day, Bulgaria becomes the 21st country to join the euro currency union, furthering its integration into the European Union. But the historic milestone arrives amid political instability and skepticism among ordinary people fueled by fears of price rises.

On New Year’s Day, Bulgaria becomes the 21st country to join the euro currency union, furthering its integration into the European Union. But the historic milestone arrives amid political instability and skepticism among ordinary people fueled by fears of price rises.

Sofia

Bulgaria is preparing to adopt the euro, making it the 21st country to join the eurozone. Business leaders, particularly those involved in international trade, support the transition, citing benefits such as simplified transactions and the elimination of currency exchange with the euro.

However, public sentiment is mixed due to concerns about rising prices and inflation, which stood at 5.2% in the previous month. Recent political instability and a perceived lack of public awareness efforts have added to the uncertainty, with a Eurobarometer survey indicating that nearly half of Bulgarians oppose the switch to the euro.

Bulgaria to become 21st country to join euro

Bulgaria is adopting the euro, and businesses, especially ones that sell goods across borders, like Natalia Gadzheva's vineyard, are all behind the single currency. This would ease the business of a large part of the enterprises operating in Bulgaria. We also collaborate with many international partners. We import supplies from abroad, which means there'll be no need to exchange the Bulgarian lev for euros to trade directly. However, not everyone is so upbeat. There are persistent fears that the currency switch will push up already high prices for consumers who are struggling with inflation that stood at 5.2% last month. Add to that the recent anti-corruption protests that just pushed Bulgaria's government from power, and the uncertainty that's taken root may not be so surprising. Some analysts blame the authorities for failing to prepare people better. The awareness campaign is a bit weak, and there are vulnerable populations that I'm not sure are very well aware of what should be done, especially in the first months after the introduction of the euro. Older people, people living in remote areas, people with low level of education, for them I think that it might be a bit difficult. Other right groups concerned over the loss of Bulgarian identity and pro-Russian political parties have also been behind opposition to the euro. And despite the European Central Bank pointing to a short-lived impact on prices judging by previous euro changeovers, a recent survey by EU polling agency Eurobarometer has still put as much as 49% of ordinary Bulgarians against the euro.

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