site.btaJoining Euro Area Means Greater Stability and Benefits for Bulgaria - ECB President Lagarde

In a Facebook post on Tuesday, European Central Bank (ECB) President Christine Lagarde wrote: “In exactly 100 days, Bulgaria will become the 21st country to join the euro area. For Bulgaria, this means greater economic stability as well as benefits for citizens, businesses, and banks.”  

The ECB explained on its website that Bulgaria’s entry into the euro area on January 1, 2026, is a historic step for the country and a significant opportunity for people and businesses across the euro area. The adoption of the single currency will bring greater economic stability, smoother transactions, and deeper integration across Europe. For Bulgaria, it will provide a stronger foundation for long-term growth and resilience.

The ECB stressed that it is working closely with Bulgaria’s national authorities to ensure a smooth transition, with particular attention to price stability. The institution pointed out that the euro protects savings and purchasing power, while membership will give Bulgaria a voice in decision-making on the future of the common currency.

The expansion of the euro area at a time of geopolitical uncertainty sends a message of unity and solidarity, the ECB noted. Membership will mean more opportunities for growth, trade, and investment, while strengthening financial stability and confirming the continuity of European integration.

The central exchange rate has been set at BGN 1.95583 per EUR 1.

The ECB explained that while some retailers might try to raise prices unfairly during the changeover, Bulgaria has safeguards in place. Prices will be displayed in both lev and euro in the months before and after the transition, and authorities will monitor compliance strictly to protect consumers.

Bulgarian banks will gain access to ECB liquidity, making the system more stable and increasing confidence in savings. The elimination of conversion costs in transactions with euro area partners will boost competitiveness and make cross-border activities easier.

As of January 2026, interest rates in Bulgaria will follow the decisions of the ECB Governing Council, in which the Bulgarian National Bank Governor will participate as a full member.