site.btaFinance Ministry Denies Allegations that Euro-Lev Dual Circulation Will Continue After January 31, 2026

The Bulgarian Finance Ministry on Wednesday denied allegations that the month-long euro and lev dual circulation period will be prolonged beyond its statutory expiry on January 31, 2026.

The Ministry's press release responded to queries prompted by claims circulating in public that such an extension is contemplated by a planned revision of the Introduction of the Euro in the Republic of Bulgaria Act.

The Finance Ministry's Press Centre is authorized to state that Ministry officials have not held any meetings on an extension of the dual circulation period and that no such meetings are planned.

"The Ministry of Finance categorically opposes attempts at using the name of the institution for the purpose of achieving political dividends by manipulation and deliberate misleading the public regarding the period of simultaneous payments in lev and euro within the national territory," the press release says.

"The month-long period is intended to allow members of the public sufficient time to adapt to the new currency and facilitate the exchange of lev banknotes and coins but also to contain retailers' logistical difficulties and expenses on keeping sums at hand in both currencies," the Ministry specified.  

It explained that the one-month period starting from the date when the euro would become Bulgaria's official currency has been set after public consultations which did not produce proposals for its extension or reduction. The period has also been consulted with the Bulgarian National Bank, the Financial Supervision Commission, government institutions and the academic community and has been coordinated with the European Commission and the European Central Bank.

The Ministry recalled that a dual circulation period has not lasted longer than one month in any State that has adopted the euro as its official currency. The countries that most recently joined the eurozone (Lithuania, Latvia, Estonia, Slovakia and Slovenia) opted for two-week dual circulation whereas only Malta and Cyprus chose one month.  

On December 16, 2025, Vazrazhdane Floor Leader Kostadin Kostadinov, Deputy Floor Leader Petar Petrov and MP Tsoncho Ganev tabled a bill under which the dual circulation period is to be extended to six months - the maximum permissible under Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro.

The lawmakers argued that the longer period was necessary because of the "extraordinary situation" in Bulgaria with no Parliament-elected cabinet and no adopted annual budget law. They also insisted that, considering that two applications challenging the adoption of the euro by Bulgaria are pending before the EU Court of Justice, the use of the national currency for payments in Bulgaria must not be discontinued until the Court renders judgment on the merits of the two cases because "otherwise, this would entail irreversible economic and political consequences if the Court revokes the introduction of the euro."

The draft legislation has been distributed to the parliamentary Budget and Finance Committee and the Economic Policy and Innovation Committee. The National Assembly is in Christmas recess until January 10, 2026.