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Bulgarians Remain Divided Over Euro Adoption Following Country’s Approval To Join Single Currency

Bulgaria’s approval to adopt the euro has reignited national debate, with citizens remaining sharply divided over the transition.

The European Commission’s approval for Bulgaria to adopt the euro has sparked mixed reactions across the country, highlighting a divide between optimism over economic prospects and public mistrust of institutions.

Igor Ruge, a hotel manager in the southern ski town of Bansko, welcomed the news on Wednesday, saying the move could attract more foreign tourists and boost investment in the EU’s poorest member state.

“It will be much easier for everyone within the euro zone to understand our value … and to understand that Bulgaria is one of the most attractive countries for winter and summer vacation,” said Ruge, who manages two hotels in the area.

Bulgaria, which joined the European Union in 2007, is set to become the 21st country to adopt the euro on 1 January 2026. The shift is expected to streamline trade and grant Bulgaria a voice on the European Central Bank’s Governing Council.

However, despite anticipated economic benefits, public scepticism remains high. Concerns about potential price hikes, corruption, and fragile governance continue to fuel opposition.

A Eurobarometer poll published last month showed that 50 percent of Bulgarians did not support joining the common currency, a rise from 46 percent in November.

“When you don’t trust the institutions in the country, it is much harder to make any transition … especially when it comes to joining the euro,” said Petar Ganev, senior research fellow at Bulgaria’s Institute for Market Economics.

Bulgaria has faced a prolonged political crisis over the past four years, marked by repeated snap elections and unstable coalitions. This has deepened public mistrust and complicated the path toward euro adoption.

In response to the concerns, the government pledged to closely monitor pricing during the transition to prevent unjustified increases.

“It is important to ensure constant monitoring related to pricing, so that Bulgarian citizens and businesses can rest assured that no unjustified price increases will be allowed during this period,” said Finance Minister Temenuzhka Petkova at a news conference.

Ministries welcomed the Commission’s approval as a culmination of a decade-long effort, saying the government would continue working to secure public trust ahead of the currency changeover.

Faridah Abdulkadiri

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