On January 1, 2026, Bulgaria will adopt the single European currency, the euro.
“This is a historic step for the country and a boon for individuals and businesses in the euro area. The transition will lead to greater economic stability, smoother transactions, and stronger European integration. For Bulgaria, adopting the euro will help to better support long-term economic growth and strengthen its resilience,” according to a statement on the European Central Bank’s website.
The publication notes that “the changes may raise questions and concerns.” “However, the ECB and national authorities are working closely together to ensure a smooth transition for everyone through careful planning and a focus on price stability,” the European Central Bank assures.
Bulgaria is parting with its national currency, the lev, 19 years after joining the European Union. The press in the veteran eurozone countries points out that this will be convenient for tourists and travelers. However, there are concerns in Bulgaria itself, as the ECB acknowledges.
Expectations of benefits are overshadowed by concerns about possible price increases, as seen in Croatia, which joined the eurozone three years ago. These fears are all the more serious given that Bulgaria is one of the poorest countries in the EU.
Nevertheless, the European Commission (EC) considered that this Balkan country, which is becoming the 21st member of the eurozone, has met the relevant criteria: economic stability, public debt below 60% of GDP, and low inflation.
On June 4, 2025, the EC announced its conclusion that Bulgaria was ready to switch to the euro on January 1, 2026.
“Thanks to the euro, Bulgaria’s economy will become stronger, with more trade with eurozone partners, foreign direct investment, access to finance, quality jobs, and real incomes. And Bulgaria will take its rightful place in decision-making within the eurozone,” said EC President Ursula von der Leyen on this occasion.
The EU Council, in turn, announced on July 8, 2025, the approval of the last three legal acts necessary for the introduction of the euro in Bulgaria on January 1, 2026.
“This marks the culmination of a thorough accession process for Bulgaria, which has involved rigorous analysis and intensive preparation,” said Danish Economy Minister Stephanie Lose, who was chairing the EU Council at the time.
“One of the three legal acts sets the exchange rate between the euro and the Bulgarian lev at 1.95583 levs per euro. This corresponds to the current central rate of the lev in the Exchange Rate Mechanism II,” the EU Council said in a statement.
After Bulgaria joins the eurozone, six countries will remain in the EU that do not use this currency: Hungary, Denmark, Poland, Romania, the Czech Republic, and Sweden.
The European Monetary Union, or eurozone, began operating on January 1, 1999, when the single European currency, the euro, was introduced into non-cash circulation. Since March 1, 2002, the euro has been the sole legal tender in the eurozone. Eurozone countries transfer all monetary policy powers to the ECB, including decisions on the amount of money supply and the key interest rate.
In Bulgaria, amid the transition to the euro, some of the population remain concerned about possible price increases and heightened political tensions, according to media reports.
The country will join the eurozone on January 1, 2026, becoming the 21st country to adopt the single European currency.
There are also reports of a protest campaign under the slogan of preserving the Bulgarian lev, and according to Eurobarometer, about 49% of Bulgarians oppose the introduction of the euro.
The article notes that the ECB and European institutions point to the potential benefits of the transition, and the fixed conversion rate is set at 1.95583 leva per euro.
At the same time, according to media reports, the Bulgarian parliament strengthened control mechanisms in the summer to stop unjustified price increases when the currency changes.
Possible scenarios for the rise in the cost of living due to the introduction of the euro: the mildest scenario is a short-term “rounding” effect in retail trade, when some prices are rounded up, which usually contributes slightly and temporarily to inflation.
A more severe scenario is attempts by individual sellers and services to take advantage of the transition period and raise prices more than the conversion dictates, against the backdrop of already noticeable increases in the cost of food and real estate in 2025.
A negative scenario for citizens is if the rise in prices in the consumer basket outpaces the indexation of wages and pensions, real purchasing power will temporarily decline even with a formally small increase in inflation.
According to the Serbian Economist, Bulgaria has started accepting applications for a long-term stay permit on the basis of “digital nomad” – the relevant changes to the by-laws came into force on December 20, 2025.
As Bulgarian Telegraphic Agency reported, the introduction of the procedure for issuing such a permit is intended to create a clear procedure for foreigners who want to live in the country and work remotely without a relationship with a local employer, as well as to bring economic benefits by attracting specialists in innovation, high technology and creative industries.
Upon initial application or renewal of the permit, the applicant must, inter alia, prove an average annual income of at least 50 minimum monthly salaries for the previous calendar year and provide documents proving remote employment – an employment contract with the employer or contract(s) for remote services and recommendations from the customer(s), and the work or services must not be provided to persons and companies in Bulgaria.
Bulgarian legislation defines three categories of “digital nomads”: employees of an employer outside the EU/EEA/Switzerland; owners/shareholders (with a share of more than 25%) or management of companies registered outside the EU/EEA/Switzerland; and persons who have provided remote services for at least one year prior to the application, provided there is no employment on the Bulgarian market. The permit is valid for one year, renewable for another year; the procedure usually involves obtaining a D visa and subsequent regularization in Bulgaria.
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Citizens of Ukraine and Russia are among the top ten foreign buyers of housing in Bulgaria in 2024–2025, according to a study by the Experts Club analytical center and data from the Bulgarian Real Estate Association.
According to the study, the top 10 countries whose citizens are most active in buying real estate in Bulgaria are: Great Britain, Germany, Greece, Israel, Romania, Turkey, Italy, Russia, Ukraine, and Poland.
Foreigners account for a significant share of transactions in the housing market. According to one international analytical resource, the number of foreign buyers of residential real estate in Bulgaria in 2024-2025 has increased by approximately 18%, and the overall market is showing steady price growth. According to local experts, the percentage of foreigners in some coastal projects may reach 30% of the total number of buyers.
Foreign buyers are most interested in properties on the Black Sea coast – in Varna, Burgas, and Nessebar – as well as in the mountain resorts of Bansko and Pamporovo, where real estate is considered both for personal use and as an investment for rental.
Analysts note that Ukrainians have firmly established themselves in the top 10 due to a combination of relocation and investment demand: some buyers view Bulgaria as a safe EU jurisdiction during the war, while others see it as an opportunity to earn income from renting out property in tourist regions.
The growth in foreign demand is supporting price increases: over the past year, the cost of housing in Bulgarian seaside resorts has risen by an average of 8-10%, and in Sofia by 7-10%.
At the same time, according to estimates by the European Commission and a number of analytical reviews, housing in Bulgaria in 2025 is overvalued by approximately 10-15% relative to fundamental indicators, but experts are not yet talking about a critical “bubble” in the market.
In the next 2–3 years, Experts Club analysts expect foreigners to keep showing interest in Bulgarian real estate, but with a change in the demand structure: they estimate that the share of buyers from the EU, Ukraine, and Israel will grow, while the role of Russian buyers in new deals may continue to decline amid sanctions and capital movement restrictions.
According to data from the National Statistical Institute of Bulgaria and international reviews, in the second half of 2024, housing prices in the country rose by 15% year-on-year and by 87% compared to 2015. At the same time, the average price per square meter in the country remains significantly lower than in most EU countries, making Bulgaria one of the most affordable real estate markets in the Union for foreign investors.
Russian citizens traditionally account for a significant share of owners, especially on the coast. According to Bulgarian sources, in the Burgas region alone, more than 5,200 properties owned by Russians are officially registered, while across the country as a whole, there are several tens of thousands of properties. At the same time, in recent years, the share of new purchases by Russians has been declining, and some of the properties are being put on the market and bought by Bulgarian and Western European buyers.
Source: https://expertsclub.eu/rynok-zhytla-bolgariyi-analiz-vid-experts-club/
PJSC “Ukrstal Construction” (Kiev) is interested in becoming a participant of infrastructure projects in Bulgaria, the company’s management said during a working meeting with the Deputy Minister of Economy and Industry of the Republic of Bulgaria Doncho Barbalov within the framework of a visit to this country as part of the Ukrainian business delegation.
According to the press release, Barbalov emphasized that Ukraine is an important economic partner of Bulgaria and that the Bulgarian Ministry of Economy and Industry attaches great importance to the development of bilateral economic relations, seeking to expand them.
The participants of the meeting discussed the prospects of investment cooperation, industrial clusters and industrial zones in Bulgaria, paid attention to practical aspects of cooperation within the framework of the North-South transport corridor and the possibility of municipal investment programs. At the same time, representatives of Ukrstal demonstrated to the Bulgarian management and representatives of Bulgarian business its production capacities and its own realized projects in metallurgical, energy, oil and gas industries, infrastructure and commercial construction, construction of logistics hubs, told about the achievements and the possibility of further expansion of its own industrial parks on the basis of our plants.
“The leaders of ”Ukrstal Construction“ expressed great interest and willingness to become reliable and experienced partners of construction, energy, industrial and logistics companies in Bulgaria in the creation of transport and logistics corridors, the implementation of infrastructure facilities – bridges, terminals, airports, modernization of energy, the introduction of innovative technologies, in commercial construction,” – stated in a press release.
The Deputy Minister of Economy expressed hope that as a result of the delegation’s visit to Bulgaria concrete projects will be realized, and the Ministry of Economy and Industry will remain available to provide assistance within its competences.
As part of the program of visits on November 12-18, working meetings of the company’s management were also held in the National Assembly (Parliament) of the Republic of Bulgaria, in the Ministry of Transport and Communications, the Ministry of Energy, the Chamber of Commerce and Industry, with the municipality and the management of the Port of Burgas.
Investment opportunities, state incentives and presentation of Ukrainian initiatives, creation of industrial parks and hubs were the main topics of meetings with the Agency for Management of Industrial Zones in Bulgaria and with the Bulgarian Investment Agency, the press release said.
PJSC “Ukrstal Construction” (Kiev) is the managing company of a group of plants, including metal construction plants “Ukrstal Dnipro”, “Ukrstal Zhytomyr”, “Ukrstal Zaporizhzhya” and experimental-mechanical plant “Metalist”. The main type of economic activity is production of building metal structures and parts of structures.
According to NDU data for the third quarter of 2025, JSC “Closed non-diversified venture corporate investment fund ‘Rift’ owns 99.6116% of shares of PJSC ”Ukrstal Construction”. The ultimate beneficiary (controller) of the fund is listed as Vitaliy Haiduk.
According to Serbian Economist, the average annual salary of full-time employees in the EU in 2024 was €39,800, which is 5.2% higher than in 2023, according to Eurostat.
The highest average salaries were recorded in Luxembourg (€82,969), Denmark (€71,565), and Ireland (€61,051).
The lowest figures were in Bulgaria (€15,387), Greece (€17,954), and Hungary (€18,461).
The full list for EU countries in 2024 is as follows:
Luxembourg — €82,969;
Denmark — €71,565;
Ireland — 61,051;
Belgium — 59,632;
Austria — 58,600;
Germany — 53,791;
Finland — 49,428;
Sweden — 46,525;
France — 43,790;
Slovenia — 35,133;
Spain — 33,700;
Italy — 33,523;
Malta — 33,499;
Lithuania — 29,104;
Cyprus — 27,611;
Estonia — 26,546;
Portugal — 24,818;
Czech Republic — 23,998;
Croatia — 23,446;
Latvia — 22,262;
Poland — 21,246;
Romania — 21,108;
Slovakia — 20,287;
Hungary — 18,461;
Greece — 17,954;
Bulgaria — 15,387.
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