SOFIA — Bulgaria will become the 21st country to join the eurozone on 1 January 2025. The move marks a major economic milestone for the European Union’s poorest nation, home to approximately 6.5 million people.

The transition follows years of political turbulence, including seven parliamentary elections over a four-year span and the December resignation of Prime Minister Rosen Zhelyazkov’s government after less than a year in office. That resignation came amid weeks of mass anti-corruption protests across the country. Despite this instability, Bulgaria met the EU’s convergence criteria, as confirmed in the 2025 convergence reports published on 4 June, which concluded the nation was ready to adopt the common currency.

Public opinion remains divided. A survey by Bulgaria’s ministry of finance showed 51% of citizens supported euro adoption, while 45% opposed it. Approval in parliament was contentious: in June, members of the far-right and pro-Russian Revival party blocked the podium during the session, and a physical fight broke out after the European Commission gave its formal approval. Revival, led by Kostadin Kostadinov and described as close to Vladimir Putin’s United Russia party, has actively campaigned against the euro. Kostadinov claimed earlier this year that Bulgarians would lose their savings due to a different exchange rate.

European officials have pushed back against such concerns. “Thanks to the euro, Bulgaria will have more trade, more investment and more quality jobs and real incomes,” said Ursula von der Leyen, president of the European Commission. Valdis Dombrovskis, the EU’s economy commissioner, added that “most European countries – including Bulgaria – are far too small to shape today’s world on their own. They only stand to gain necessary weight by fully integrating into the European Union’s larger political and economic structures.” Dombrovskis also cited foreign interference, stating, “It is provocation, acts of sabotage, violation of European airspace, meddling in political processes in the European Union, also in other countries, and it is spreading disinformation.” Investigative reports confirmed Russian-linked social media campaigns sought to undermine euro support through disinformation.

The European Commission has stated there is no evidence the currency switch will cause inflation. During January, Bulgarians can pay in both the lev—introduced in 1881—and the euro; after 31 January, only euro payments will be accepted. With an average monthly salary of approximately £1,100, many citizens are weighing the practical impact. Sofia pharmacist Maria Valentinova said, “The euro will be good for the economy of the country in the long run,” while others expressed identity concerns or uncertainty about savings.

Petar Ganev, a senior research fellow at Sofia’s Institute of Market Economics, noted the nation’s deep divisions. “This is not surprising. The country is divided on almost everything that you can imagine. And after the political instability, we ended up in a very hostile political environment.” He added, “What will happen to our country and if we are going to be a good example in the eurozone or a bad example … depends entirely on us.”

Why It Matters

Bulgaria’s euro adoption completes a decades-long integration process into EU economic structures and brings the bloc’s common currency to its eastern frontier. The move occurs amid documented efforts by external actors to disrupt the transition, highlighting the geopolitical stakes of monetary union in a region historically targeted by disinformation campaigns. Bulgaria’s success or struggle in the eurozone could influence neighboring EU members considering similar transitions.