After the conference “Bulgaria on the Threshold of the Eurozone”, which was held at the “Boyana” residence and brought together the best financiers of Europe in Sofia, the President of the European Central Bank Christine Lagarde and the Governor of the BNB Dimitar Radev gave a joint press conference.
For the first time, they showed what the Bulgarian euro banknotes will look like. The banknotes are worth 5, 10, 20, 50, 100 and 200 euros, Nova TV reports.
- Statement by Christine Lagarde
„We are very pleased to welcome Bulgaria to the eurozone. On January 1, 2026, we are putting an end to a process that has taken many years of hard work, difficult reforms and many expectations”, Lagarde said.
She did not hide that there are Bulgarians who are afraid and worried about the change, but assured that this is happening in every country that adopts the single currency. „Currently, support for the euro is at its highest level in history at 83%. This is exactly the share of Europeans who recognize the currency as their own. And Bulgaria will fit into this group”, emphasized the ECB President.
- Statement by Dimitar Radev
„Dear Christine, it is a real pleasure for us to be here. Among friends who appreciate your leadership and vision for the ECB, especially in times like these of geopolitical uncertainty. We are at the end of our journey towards the euro area and the results of our efforts are a reflection of our vision — to strengthen stability and our deep integration into the European Union. We are harmonized with the legal framework of the euro area thanks to the consistent efforts we have made in recent years. This achievement would not have been possible without the support of our partners in Europe and in particular the European Central Bank. Dear Christine, we are grateful for your continued support. The future adoption of the euro will be an important benchmark in the history of Bulgaria. For us, it will open new prospects for growth and prosperity. It will also bring new responsibilities, which we are ready to accept with the same discipline and reason as before,” he said.
And he added: “We are convinced that a stronger and more integrated Europe is beneficial for all its members. Your visit today confirms our determination to continue our contribution to the development of the euro area”.
“We have earned our reputation as a fiscally responsible country over the years. This is demonstrated by one of the lowest ratios of external debt to gross domestic product in Europe. And not only that. However, since 2020, we have gradually lost this position of fiscal discipline. I have repeatedly confirmed that we must reverse this trend. We are currently facing the same dilemma in the context of the 2026 budget. From a macroeconomic perspective, the approach must be clear – strengthening control, limiting spending and investing in long-term growth. If there is no capacity to take these measures, the alternative is higher taxes, higher taxation and higher debt. However, this leads not only to severe macroeconomic but also political consequences, as the experience of other European countries shows. Therefore, we must return to the path of reasonable discipline in fiscal policy as soon as possible”, Radev added.
And he explained that he believes that the upcoming discussions and deliberations on the 2026 budget will show whether there is political will and determination to do this.
„I think that for those who are not Bulgarians in the room, it is worth recalling some of the main indicators. Bulgaria is actually demonstrating significant stability of its foundation. According to the data I have for 2025 – 3% economic growth, 3.4% inflation, 3.9% unemployment, 29.3% debt-to-GDP ratio and 4% fiscal deficit. Our country has an extremely stable history, which it can and must build on to continue on the path of sustainability and maintain the high standards it has set,” he added.
In my words, Bulgaria has secured sufficient quantities of euro banknotes and coins, which will be available from the first hours of the New Year.
„The Bulgarian National Bank, in close cooperation with the European Central Bank and the national central banks of the eurozone, is carefully organizing the entire process of delivery and distribution of means of payment. Do not forget that in January, in order to ensure a smooth transition, payments will also be accepted in leva. As for electronic and digital payments - they will be made without any difficulties, but already in euros, from the very first moment. This will significantly facilitate everyone during the period of change”, Radev also said. And he assured that the banking system is in very good condition - stable, with high liquidity, and fully ready from the first day to give a confident start to Bulgaria's membership in the eurozone.
He called on Bulgarians to be calm and practical.
„There is no need for extraordinary preparation or additional actions in advance”, Radev said at the end of the press conference.