Bulgaria’s long-anticipated accession to the eurozone on January 1, 2026, remains firmly on track, despite the recent resignation of the government. Experts insist that political turbulence will not derail the country’s path toward adopting the single European currency.
The issue was discussed on the program “Brussels 1” by former Member of the European Parliament Petar Vitanov and Petko Petkov, CEO of Gallup International Balkans. Both analysts emphasized that institutional continuity and European oversight ensure the process continues uninterrupted.
Vitanov explained that under Bulgaria’s constitutional framework, the resignation of a government does not create a power vacuum. Ministers remain in office and continue to perform their duties until a caretaker government is formally appointed.
According to him, this transitional phase could last anywhere between one and three months. However, he stressed that such procedural timelines have no bearing on Bulgaria’s eurozone roadmap or its commitments to European institutions.
Petkov reinforced this assessment, pointing to confirmation from the European Commission that Bulgaria has met all required convergence criteria. These include price stability, sound public finances, exchange rate stability, and alignment with European monetary policy.
“The process is effectively irreversible at this stage,” Petkov said, dismissing claims that political instability could delay or cancel euro adoption. He described alarmist rhetoric from some political actors as misleading and harmful to public confidence.
Both experts argued that repeated warnings of economic collapse are being used as political tools rather than grounded in economic reality. Petkov criticized what he called “doomsday narratives,” saying they distort facts and create unnecessary fear among citizens.
Nevertheless, the discussion also highlighted genuine concerns surrounding the economic impact of the currency transition. Both Vitanov and Petkov acknowledged that adopting the euro will inevitably lead to price increases across various sectors.
Vitanov noted that no country has ever switched to the euro without experiencing economic shocks. He said Bulgaria is unlikely to be an exception, as businesses adjust pricing systems and consumers adapt to the new currency.
He added that some inflationary adjustments have already begun, even before the official adoption date. These early changes, he suggested, are partly driven by expectations and market psychology rather than structural economic weakness.
Further price increases in goods and services are expected after the euro is introduced, Vitanov said. Sectors such as retail, hospitality, and services are particularly sensitive during currency transitions.
Petkov focused on the gap between official inflation data and public perception. While statistics may show moderate inflation, many Bulgarians feel the cost of living is rising faster than reported.
This discrepancy, he said, fuels frustration and mistrust. Citizens frequently compare prices in Bulgaria with those in wealthier eurozone countries, questioning why similar or higher costs persist despite lower average incomes.
According to Petkov, this sense of unfairness poses a communication challenge for authorities. Clear explanations and transparent monitoring of prices will be essential to maintaining public support during the transition.
Experts also stressed the importance of strong regulatory oversight to prevent unjustified price hikes. Past eurozone entrants implemented dual pricing and strict controls to protect consumers, measures Bulgaria is expected to follow.
Despite the concerns, both analysts agreed that euro adoption offers long-term benefits. These include greater financial stability, lower transaction costs, and deeper integration into the European economy.
As Bulgaria moves closer to its 2026 target, the focus is likely to shift from political uncertainty to managing economic expectations. For many citizens, the success of euro adoption will be judged less by macroeconomic indicators and more by everyday prices at the checkout.
While challenges remain, experts insist that Bulgaria’s eurozone journey is no longer a question of “if,” but of how smoothly the final transition will unfold.