SOFIA: Bulgaria will become the 21st country to switch to the euro when it enters the New Year on Thursday, amid concerns the move could usher in higher prices and add to political instability rattling the Balkan country.

When midnight strikes on Wednesday, Bulgaria will give up the lev currency, which has been in use since the late 19th century.

Successive governments in the country of 6.4 million people have advocated joining the euro, hoping that it will boost the economy of the European Union’s poorest member, reinforce ties to the West, and protect against Russia’s influence.

But Bulgarians have been divided over the switch, with many worrying the introduction could exacerbate inflation, which hovers around 3.6 percent.

“People are afraid that prices will rise. Today it’s four leva, and it will become four euros, while salaries will remain the same,” a woman in her forties who declined to give her name said in Sofia.

At one of the largest and oldest markets in the capital, market stalls displayed prices of everything from groceries to New Year’s Eve essentials like sparklers in both levs and euros.

“Just like the whole of Europe has managed with the euro, we’ll manage too,” retiree Vlad said.

“The important thing is that Bulgaria remains in Europe and distances itself from Moscow,” he added.

European Commission president Ursula von der Leyen said Bulgaria’s move into the eurozone marked “an important milestone”.

Published in Dawn, January 1st, 2026