Bulgaria: The Lev Exits Circulation, Enters Collector Circles
As Bulgaria phases out the lev at the end of January, the numismatic market is already responding to the change, though not all coins are attracting attention.
A large protest is underway at "Nezavisimost" Square in Sofia, organized by the opposition coalition "We Continue the Change-Democratic Bulgaria" (WCC-DB), targeting the government’s draft Budget for 2026, particularly the proposed increases in social security contributions and the tax on dividends.
Among the demonstrators, actor Filip Bukov voiced frustration over the allocation of public funds. “I want the taxes I pay to go where they should - for salaries of medical personnel, for education, and for a functioning state. Roads, schools, and other essential services should not suffer from misused funds. If they raise the dividend tax, I fear it will encourage the shadow economy instead of generating revenue,” Bukov said.
Protesters attempted to block access to the National Assembly, but heavy police and gendarmerie cordons restricted movement. Despite the security measures, groups of demonstrators stood in front of police lines, aiming to obstruct the entrances. The confrontation escalated as protesters threw bombs and water bottles at officers positioned near Dondukov Boulevard and the National Art Gallery entrances.
A white bus, deployed by police to transport deputies, was also blocked by demonstrators who covered it with stickers, recalling similar tactics from the 2013 protests against the Oresharski government over the appointment of Delyan Peevski. Protesters chanted slogans such as “Trash” and “Mafia” and sang, “When Peevski falls, I don’t want to be underneath,” while waving Bulgarian and European flags.
Thousands participated in the demonstration, effectively blocking traffic between the buildings of the presidency, parliament, and Council of Ministers, commonly referred to as the “triangle of power.” The protest coincided with a tense budget committee meeting that approved, on second reading, a 2-percentage-point increase in social security contributions and set the health fund budget. Final approval of Budget 2026 in the plenary hall is scheduled for Thursday.
Early arrivals began gathering around 1:00 p.m., well before the committee’s 2:15 p.m. session. Attendees monitored proceedings on a video wall outside parliament and moved to the entrances to confront deputies after the session ended. The white bus, carrying police officers, became a focal point for resistance, with demonstrators attempting to block or push it aside.
Several public figures and political leaders joined the protest. WCC-DB MPs were present, as were Kornelia Ninova, former leader of the Bulgarian Socialist Party, and Deputy Prime Minister Iliyana Yotova, who expressed support for the demonstration.
The opposition and business representatives criticized the budget for increasing salaries in the state administration, Ministry of Interior, army, and judiciary while simultaneously imposing heavier burdens on the private sector. Key points of contention include:
Social security contribution increase of 2%;
Increase in maximum social security income to 4,600 leva (€2,352) and minimum to 1,213 leva (€620);
Rise of the dividend tax from 5% to 10%;
Additional growth in state external debt to 37.6 billion euros, equivalent to 31% of GDP.
The protest reflects widespread concern over the economic impact of the budget on both individuals and businesses. Citizens formed a human chain around the National Assembly and blocked deputies’ cars, with police intervening to maintain order.
Earlier this month, the Confederation of Independent Trade Unions in Bulgaria (CITUB) also held protests against Budget 2026. In early November, major business representatives boycotted discussions at the National Council for Tripartite Cooperation (NCTC), underscoring the ongoing tension between the government, employers, and trade organizations regarding the financial plan for 2026.
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