In response to inquiries regarding allegations in the public domain that an amendment to the Law on the Introduction of the Euro in the Republic of Bulgaria (LIERB) is being prepared to extend the period of dual circulation of the lev and the euro, the press centre is authorised to state the following:
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 strongly opposes attempts to use the institution's name to gain political advantage through manipulation and deliberately misleading the public about the deadline for simultaneous payments in BGN and EUR within the country.
From 1 January 2026, the official currency in Bulgaria will be the euro. Article 24 of the Law on the Introduction of the Euro in the Republic of Bulgaria clearly states that “in accordance with Article 15 of Regulation (EC) No 974/98, from the date of introduction of the euro in the Republic of Bulgaria, for a period of one month, banknotes and coins in BGN shall continue to be legal tender in the territory of the Republic of Bulgaria (period of dual circulation of the BGN and the EUR)”. The one-month period is intended to give citizens sufficient time to adapt to the new currency and to facilitate the process of exchanging BGN banknotes and coins for EUR, 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 following a public consultation on the LIERB, during which no proposals were made to extend or shorten this period. The period was discussed and agreed upon in the working groups of the Coordination Council for the Preparation of the Republic of Bulgaria for Membership in the Eurozone, which includes representatives of the Bulgarian National Bank and the Financial Supervision Commission, state institutions, consumer associations, non-governmental organisations, and representatives of the academic community. The period of dual circulation has also been agreed with the European Commission and the European Central Bank.
We would also like to remind you that in all countries that have introduced the euro as their official currency, the longest period of dual circulation has been one month. The countries that most recently joined the euro area – Lithuania, Latvia, Estonia, Slovakia and Slovenia – opted for an even shorter period of two weeks, while only two other countries (Malta and Cyprus) opted for one month.
The Ministry of Finance urges citizens to seek official sources of information, such as the specially created website for the euro – https://еврото.бг and the website of the Bulgarian National Bank.
The law on the introduction of the euro in the Republic of Bulgaria can be found HERE.