A recent survey by Bulgaria’s ministry of finance showed 51% of citizens were in favour of joining the single currency, while 45% were against. Photograph: Dimitar Kyosemarliev/AFP/Getty Images
Bulgaria will become the 21st country to join the euro currency union on New Year’s Day, deepening its integration with the European Union, News.az“>News.Az reports. The historic step marks a major economic shift, but it comes against a backdrop of political instability and public concerns over rising prices.
Supporters hail the transition from the lev to the euro as one of Bulgaria’s most significant milestones since the 1989 move away from a Soviet-style economic model. They believe eurozone membership will attract more foreign investment, boost financial confidence and tie the country closer to wealthier Western European economies.
Yet many Bulgarians remain cautious. Low trust in authorities, widespread corruption concerns and fear of opportunistic price hikes have fuelled scepticism. Critics worry that merchants could use the changeover to round prices up, especially as inflation recently rebounded to 3.7%.
The transition will be closely watched across Europe as Bulgaria enters a new monetary era.