Bulgaria: Euro Adoption Receives Broad Support, but Price Concerns Persist

The transition to the euro in Bulgaria has been met with a generally positive reception, though significant concerns remain regarding inflation and price regulation. A poll conducted by MoitePari.bg among over 500 respondents in the first days following the euro’s introduction shows that most Bulgarians support the new currency, yet many fear that businesses may exploit the change to increase prices artificially.

Technical Readiness and Early Transactions
The initial days of 2026 passed largely without major technical issues. Card payments functioned smoothly, with 94% of respondents reporting no problems using bank cards. Cash usage remained mixed: 37% carried both levs and euros, another 37% relied solely on levs, and only 4% had only euros. ATM withdrawals were mostly trouble-free, with 76% reporting no need to withdraw cash, and 23% successfully accessing euros without issues. Only 1% could not obtain euros from ATMs.

In commercial establishments, 76% of participants reported no difficulties paying in levs, while 18% had exchanged their lev savings for euros before January 1. When receiving change, 48% said merchants returned it primarily in euros, 40% received change in levs due to insufficient euro cash, and 12% received mixed change—a practice that is legally prohibited. According to regulations, change should be provided exclusively in euros, or entirely in levs if the merchant lacks sufficient euro cash.

Public Support and Expectations
Despite some opposition, support for the euro is strong. Half of respondents expressed full support for the currency, and overall, 67% hold a positive view compared with 30% who are euroskeptical. A majority of 57% anticipate that the euro will bring more benefits to Bulgaria, while 25% expect negative effects. Views on personal income are divided: 33% expect increases in the next one to two years, while 32% foresee decreases.

Main Concerns: Inflation, Property, and Loans
Inflation remains the primary concern. Only 6% of respondents believe the euro will stabilize prices. Most, 76%, anticipate price increases, with 40% expecting significant rises and 36% slight increases due to rounding. Confidence in control measures, such as double labeling and sanctions against excessive pricing, is low: 51% see them as ineffective.

The property market is expected to grow, with 55% of respondents predicting price increases over the next two years, including 10% expecting rises of 11–20%. Opinions on loan interest rates are divided: 32% anticipate stability, 29% foresee increases, and 12% expect rates to decrease.

Consumer Experiences During the Transition
Many respondents cited examples of speculative pricing practices. Some merchants directly converted prices from levs to euros without adjusting for the exchange rate, effectively doubling costs—for instance, a croissant priced at 1.20 leva being sold for 1.20 euros. Small traders in markets and service providers, including dentists and craftsmen, also reportedly raised prices, exploiting initial confusion among buyers.

Operational issues were noted as well. Some merchants lacked sufficient euro cash, returned change in levs, or even refused lev payments unlawfully. Certain regions, such as Burgas, experienced shortages of euro coins, making small purchases challenging.

Market Analysis and Social Implications
Free comments from survey participants suggest that trust in state oversight is eroding, with many believing authorities are allowing businesses to capitalize on the transition. A positive side effect has been a push toward digital payments, as merchants installed POS terminals to avoid counterfeit euro banknotes or difficulties giving change. However, elderly consumers remain vulnerable, often lacking sufficient information and facing higher risk of fraud.

Profile of Respondents
The poll largely reflects the views of highly educated and economically active Bulgarians. Seventy-eight percent hold a university degree, 81% reported being well-informed about the euro transition, and 28% have a net monthly household income exceeding 5,000 BGN (€2,550).

Source: MoitePari.bg