By Gloria Ikibah
Bulgaria will start using the euro on January 1, 2026, after getting approval from the European Commission and the European Central Bank. This means Bulgaria will become the 21st country in the eurozone.
The country met key requirements like stable inflation, low government debt, and a controlled budget deficit. Switching to the euro is expected to reduce borrowing costs, encourage investment, and make trade with other EU countries easier. Bulgaria will also take part in decisions made by the European Central Bank. 
EU leaders are expected to officially approve Bulgaria’s entry into the eurozone this June. In July, finance ministers will set the official exchange rate between the Bulgarian lev and the euro. The rest of the year will focus on technical preparations for the currency change.
Some people in Bulgaria worry that prices might go up after the switch. EU Economic Commissioner Valdis Dombrovskis said it’s important to keep prices clear and prevent unfair increases. He noted that past euro transitions led to only small price changes.
Once Bulgaria joins, only six EU countries will remain outside the eurozone: Sweden, Poland, Czech Republic, Hungary, Romania, and Denmark. None of them are planning to join the euro area anytime soon due to local political or economic reasons.
