SOFIA, Bulgaria – June 10, 2025 — In preparation for Bulgaria’s official adoption of the euro on January 1, 2026, the Sofia Municipal Council is taking proactive steps to align the city’s financial systems with the forthcoming currency change.
Tsvetomir Petrov, Chairman of the Council, has proposed the formation of a specialized working group to review and propose amendments to all municipal regulations involving fees, taxes, and service prices currently denominated in leva.
The initiative follows the European Commission’s latest convergence report, which confirmed that Bulgaria meets the criteria to join the eurozone. With less than seven months remaining before the switchover, Petrov emphasized the importance of ensuring a smooth and fair transition for residents of the capital city.
“Sofia must lead by example,” Petrov stated. “The euro adoption should not be an excuse for raising prices. On the contrary, we must seek ways to use the transition to improve services and benefit our citizens.”
One of the most discussed examples is the cost of a single public transport ticket, currently priced at 1.60 leva. Converted to euros, the fare would stand at 82 euro cents.
However, Petrov believes this figure may be impractical for day-to-day transactions. Instead, he has proposed rounding the fare down to 80 euro cents—a small but symbolic gesture that could position the capital as prioritizing affordability during the monetary shift.
“This is not just a mathematical exercise,” Petrov said. “It’s about sending the right message. The transition to the euro should not be used to mask price hikes. In cases where rounding is necessary, it should favor the consumer.”
The proposed working group, which is expected to include financial experts, municipal officials, and legal advisors, will be tasked with conducting a comprehensive review of all municipal charges.
The team will assess the legal, administrative, and budgetary implications of the conversion process. According to Petrov, the analysis will focus on maintaining fiscal stability while avoiding unnecessary burdens on residents.
The Municipal Council is scheduled to vote on the composition of the working group at its Thursday meeting. If approved, the group will begin work immediately, aiming to produce recommendations in time for phased implementation ahead of the euro switchover.
The move comes amid growing public interest and concern over how the euro adoption will affect everyday prices. While the Bulgarian National Bank has issued reassurances about price stability, municipal decisions on local fees and services are likely to have a more direct impact on citizens’ daily lives.
In anticipation of the upcoming changes, Sofia Municipality has already begun preliminary consultations with key stakeholders, including public transport operators, utilities, and consumer rights groups.
“This is an opportunity for Sofia to demonstrate that currency change can be handled transparently and fairly,” Petrov said.
As Bulgaria prepares to join the eurozone, the actions of local governments like Sofia’s are expected to set the tone for the rest of the country. The success of these early efforts could serve as a blueprint for other municipalities navigating the historic transition.