In its 2025 Convergence Report released on June 4, the European Commission announced that Bulgaria is poised to adopt the euro on January 1, becoming the 21st member of the euro area. This move opens doors for enhanced trade, foreign direct investment, improved access to finance, quality jobs, and rising incomes.
President Ursula von der Leyen welcomed the decision, stating, "Thanks to the euro, Bulgaria's economy will become stronger, with more trade with euro area partners, foreign direct investment, access to finance, quality jobs and real incomes." She added, "Bulgaria will take its rightful place in shaping the decisions at the heart of the euro area."
For young global citizens—from entrepreneurs and digital nomads to travellers and thought leaders—this shift means simpler cross-border payments and seamless travel. Startups in Sofia can anticipate fewer fees and more direct engagement with EU markets.
Looking at past euro area expansions, new entrants often experienced a boost in investment and export growth. While each economy is unique, optimism is high that Bulgaria will see similar gains, fueling job creation and stronger economic ties across Europe.
The next steps involve close collaboration between the Bulgarian National Bank and the European Central Bank to finalize the technical and logistical preparations. On January 1, euro banknotes and coins will become legal tender, and the Bulgarian lev will be phased out in a short transition.
This milestone not only cements Bulgaria’s place in Europe’s monetary union but also highlights the euro’s power to connect young leaders, innovators, and travellers across borders.
Reference(s):
cgtn.com
