In connection with numerous inquiries regarding allegations and speculation in the public space that a change to the Law on the Introduction of the Euro in Bulgaria is being prepared, the Ministry of Finance sent an official statement to the media, stating that the period of one month of dual circulation of levs and euros expires exactly on January 31, 2026 and will not be extended.
"Representatives of the Ministry of Finance have not held and do not plan to hold meetings to extend the one-month period of dual circulation. The Ministry of Finance categorically opposes attempts to use the name of the institution for the purpose of achieving political dividends through manipulation and deliberate misleading of the public regarding the term for simultaneous payment in levs and euros on the territory of the country", the ministry also stated.
As of January 1, 2026, the official currency in Bulgaria is the euro and in Art. 24 of the Law on the Introduction of the Euro in Bulgaria it is categorically stated that “in accordance with Art. 15 of Regulation (EC) No. 974/98 from the date of the introduction of the euro in Bulgaria for a period of one month, banknotes and coins in levs shall continue to be legal tender on the territory of Bulgaria (period of dual circulation of lev and euro)“, the Ministry of Finance also said.
The one-month period aims to guarantee sufficient time for citizens to adapt to the new currency and facilitate the process of exchanging banknotes and coins from levs to euros, but also to limit logistical difficulties and costs for traders, who during such a period should maintain stocks in both currencies.
"The one-month period specified in the law was determined after a public discussion of the ZVERB, during which no proposals were received for extending or shortening this period. The term has been discussed and agreed upon in the working groups of the Coordination Council for Bulgaria's Preparation for Membership in the Eurozone, which include representatives of the Bulgarian National Bank and the Financial Supervision Commission, state institutions, consumer associations, non-governmental organizations, and representatives of the academic community. The dual circulation period has also been agreed upon with the European Commission and the European Central Bank," the Ministry of Finance added, recalling that in all countries that have introduced the euro as their official currency, the longest dual circulation period was one month. And the countries that most recently joined the eurozone - Lithuania, Latvia, Estonia, Slovakia, and Slovenia - have chosen an even shorter term - two weeks, only two other countries (Malta and Cyprus) have chosen one month.