At a joint press conference following the high-level forum “Bulgaria on the Threshold of the Eurozone,” held at the Boyana Residence in Sofia, European Central Bank President Christine Lagarde and Bulgarian National Bank Governor Dimitar Radev unveiled for the first time the design of Bulgaria’s euro banknotes. The presentation came at the conclusion of a conference that gathered leading European financial experts to mark the country’s final steps toward adopting the single currency.

The newly presented Bulgarian euro notes will include denominations of 5, 10, 20, 50, 100, and 200 euros.

Christine Lagarde praised Bulgaria’s long and challenging journey to eurozone accession, saying the country had “reached the end of a process that took many years of hard work, difficult reforms, and great expectations.” She acknowledged that some Bulgarians remain uncertain about the upcoming change but noted that this sentiment is natural for any country joining the euro area. “Support for the euro is at a record high of 83 percent among Europeans. Bulgaria will soon become part of this community that recognizes the currency as its own,” Lagarde stated.

In his remarks, Dimitar Radev thanked Lagarde and the ECB for their continuous support throughout Bulgaria’s preparation for euro adoption. “We are now at the final stage of our journey toward the euro area. This success reflects our consistent efforts to strengthen financial stability and deepen our integration within the European Union,” he said. Radev underlined that Bulgaria’s harmonization with the legal and institutional framework of the euro area has been achieved through years of persistent reform, made possible with the backing of European partners and institutions.

Radev described the upcoming adoption of the euro as a historic milestone that will create new opportunities for growth and prosperity while introducing fresh responsibilities for the Bulgarian state. “We believe that a stronger, more integrated Europe benefits all its members. Your visit today reaffirms our determination to continue contributing to the development of the euro area,” he told Lagarde.

He also addressed Bulgaria’s fiscal challenges, noting that while the country has long been recognized for its prudent financial management and low debt levels, recent years have seen a gradual decline in fiscal discipline. “We must reverse this trend. Strengthening control, limiting spending, and investing in long-term growth are the right macroeconomic approaches. The alternative, raising taxes and increasing debt, leads to serious economic and political risks,” Radev cautioned. He added that the upcoming 2026 budget discussions would be a key test of political resolve in maintaining sound fiscal policy.

Presenting the latest economic indicators, Radev emphasized Bulgaria’s stable fundamentals: 3 percent GDP growth, 3.4 percent inflation, 3.9 percent unemployment, a debt-to-GDP ratio of 29.3 percent, and a 4 percent fiscal deficit for 2025. “Bulgaria has a solid foundation that must be preserved to ensure continued sustainability and progress,” he said.

Radev also confirmed that sufficient quantities of euro banknotes and coins have already been prepared and will be available from the first hours of January 1, 2026. The BNB, in coordination with the ECB and national central banks across the euro area, is overseeing the secure delivery and distribution of cash. During January’s dual circulation period, both euros and leva will be accepted for payments.

“All electronic and digital payments will automatically switch to euros from the very first moment, ensuring a smooth transition for everyone,” Radev explained. He reassured citizens that the Bulgarian banking system remains strong, highly liquid, and fully prepared to manage the transition from day one.

Concluding the event, Radev urged Bulgarians to approach the change calmly. “There is no need for extraordinary preparations or additional actions in advance. Everything is organized to ensure a smooth and confident start to Bulgaria’s euro area membership,” he said.