Bulgaria is preparing to adopt the euro, but some citizens are expressing concerns that the currency conversion will lead to price increases. The country is scheduled to officially adopt the euro on January 1, 2026, replacing the lev, the Bulgarian national currency.

These concerns stem from the fear that businesses will round up prices during the conversion, effectively raising the cost of goods and services. "People are worried that shops will use the changeover as an excuse to increase prices," said Aksel Zaimovic, reporting for Al Jazeera. "They fear that even small rounding errors will add up and impact their household budgets."

Bulgaria's move towards adopting the euro is part of a broader trend within the European Union, where member states strive for greater economic integration. The euro, currently used by 20 of the 27 EU member states, aims to facilitate trade, investment, and economic stability within the Eurozone. However, previous euro adoptions in other European countries have been met with similar anxieties regarding inflation and price manipulation. For example, when Slovakia adopted the euro in 2009, there were widespread reports of businesses increasing prices under the guise of currency conversion.

The Bulgarian government and the European Central Bank have launched public awareness campaigns to educate citizens about the conversion process and to assure them that measures are in place to prevent unjustified price hikes. These measures include monitoring prices and imposing fines on businesses found to be engaging in unfair practices.

Economists are divided on the potential impact of the euro adoption on Bulgaria's economy. Some argue that it will bring greater stability and attract foreign investment, while others warn of potential inflationary pressures and the loss of monetary policy control. Bulgaria, one of the poorer members of the EU, hopes that adopting the euro will boost its economy and bring it closer to the economic standards of Western Europe.

The adoption of the euro requires Bulgaria to meet certain economic criteria, including maintaining stable prices, sound public finances, and a stable exchange rate. Bulgaria joined the European Union in 2007 and has been working towards euro adoption for several years. The final decision on Bulgaria's euro membership rests with the European Council, based on assessments by the European Commission and the European Central Bank. The coming months will be crucial as Bulgaria navigates the final stages of preparation and seeks to alleviate public concerns about the transition.