Euro Transition in Motion: Bulgaria’s Institutions and Businesses Nearly Ready

With July 8, 2025 now behind us, Bulgaria is firmly set to adopt the euro on January 1, 2026. In an interview for Novini.bg, Deputy Minister of Finance Metodi Metodiev outlined the key steps remaining before the transition and addressed the most pressing public concerns surrounding the change.

According to Metodiev, Bulgaria’s entry into the euro area is part of the country’s “irreversible orientation toward Western values, Western civilization and the developed nations of Europe.” The process, however, still requires significant effort on two main fronts: technical readiness and public communication.

On the technical front, he reported strong progress. “The state administration is over 90% ready for the euro,” Metodiev said, citing updated IT systems, accounting infrastructure, and various administrative platforms that have been adapted to support the euro's introduction. He noted that this level of readiness was confirmed during the latest session of the Coordination Council for Euro Preparation.

The business sector is also advancing steadily, participating in working groups tied to the Coordination Council. “We are confident that businesses will be ready by the beginning of 2026,” he added.

The second major focus area is the public information campaign, which Metodiev admitted has faced delays. “Is it late? Yes and no,” he said, noting that although visible outreach has been limited so far, substantial work has already been done behind the scenes, such as drafting and launching public tenders needed to support the campaign.

Over the next six months, a wide-ranging communication effort will roll out, including in-person events in major cities and smaller towns, information days, and conferences. These will be complemented by both digital and offline outreach initiatives. “Citizens and society as a whole will begin to receive accurate and timely information,” he said.

Metodiev also acknowledged that misinformation has taken hold in some parts of the country, particularly in rural areas. He stressed that combating this would be a top priority of the campaign.

During the interview, the Deputy Minister answered several common questions that have generated public anxiety. On the lev-to-euro conversion rate, he was firm: “This is one of the most persistent myths. The fixed rate will remain exactly what it has been for the past 28 years – 1 euro equals 1.95583 leva.”

He dismissed concerns about a loss of national sovereignty with the adoption of the euro. “Will we lose our sovereignty by changing the lev for the euro? No,” he stated unequivocally. “Will Bulgaria still make its own budget? Absolutely. That right remains fully intact.”

Metodiev also offered practical advice. “There’s no need to rush to exchange your leva before the end of the year,” he said, explaining that people will still need to use their current currency throughout 2025. He encouraged both citizens and businesses to consult official institutions - the Bulgarian National Bank, the Ministry of Finance, the Consumer Protection Commission, and others - for accurate and up-to-date information.

He concluded with a promise that every effort will be made to minimize risks and ensure a smooth and secure transition to the euro.