Bulgaria Officially Ends Leva Circulation as Euro Transition Reaches Final Stage
Bulgaria has effectively completed its transition to the euro, with the bulk of the leva already withdrawn from circulation.
Ex-FinMin: Bulgaria's Fiscal Policy Deepens Economic Crisis
- Tweet
Send to Kindle
Plamen Oresharski, Bulgarian Minister of Finance (2005-9) and current socialist MP. Photo by BGNES
The fiscal policy of PM Boyko Borisov's center-right GERB cabinet only leads to a prolonging the period of depression in Bulgaria's economy, according to former Minister of Finance Plamen Oresharski.
Oresharski commented two years after Borisov's GERB part swept general elections on July 5, 2009.
"The collectibility of revenue has visibly dropped, excessive budget deficits above 3% of GDP were realized, the fiscal reserve shrunk with some BGN 3 B, while state debt has grown with another BGN 1 M," said the ex-FinMin and present MP from the Bulgarian Socialist Party.
He also snubbed present Minister of Finance Simeon Djankov early ambition to join the Euro, describing his 2009 priorities as "naive absolutization of the idea of joining ERM-II against all odds."
Oresharski also criticised the delayed payment of arrears which not only proves detrimental to the economy, but also allows for warping of budget accounting.
"If we also take into account the chaotic signal that this government is sending out every other day regarding key fiscal parameters, it is not hard to explain the loss of trust on the part of businesses and households," added he.
The former Bulgarian Minister of Finance further commented that although in 2009 the Borisov cabinet could well blame the former three way coalition government, with two years in power that is no longer plausible.
Related Articles:
Bulgaria Posts One of EU’s Sharpest Producer Price Surges in January
Industrial producer prices across the euro area and the European Union moved higher in January 2026 on a monthly basis, yet remained below their levels from a year earlier, according to Eurostat data
Bulgaria’s Businesses Adjust Smoothly in the First Two Months of Euro Adoption
Bulgarian businesses remain strongly supportive of the country’s eurozone membership, according to the January survey conducted by Alfa Research, which monitors public attitudes toward the adoption of the euro
Business | March 5, 2026, Thursday // 13:36
Bulgaria Completes Euro Transition Period, Euro Circulation Fully Secured
Bulgaria has effectively completed the transition period for adopting the euro, though formal legal adoption remains pending
Central Bank Chief: Euro Adoption Successful, Growth Steady, Inflation Easing in Bulgaria
Bulgarian National Bank Governor Dimitar Radev took part in a meeting of EU Heads of Mission held under the European Presidency of the Republic of Cyprus
87% of Leva Withdrawn as Over €7.5 Billion Circulates in Bulgaria
As of February 27, 2026, the withdrawal of leva banknotes and coins and their replacement with euro cash is proceeding under the established legal framework and operational plans, the Bulgarian National Bank (BNB) reported.
Bulgaria: Economy Produces 5,216 Euros Per Capita in Q4 2025
Bulgaria’s economy expanded by 3.0% in the fourth quarter of 2025 compared to the same period in 2024, according to preliminary figures from the National Statistical Institute. On a quarterly basis, seasonally adjusted data indicate a growth of 0.8% relat
Bulgaria Completes Euro Transition Period, Euro Circulation Fully Secured
Bulgaria has effectively completed the transition period for adopting the euro, though formal legal adoption remains pending
Central Bank Chief: Euro Adoption Successful, Growth Steady, Inflation Easing in Bulgaria
Bulgarian National Bank Governor Dimitar Radev took part in a meeting of EU Heads of Mission held under the European Presidency of the Republic of Cyprus
87% of Leva Withdrawn as Over €7.5 Billion Circulates in Bulgaria
As of February 27, 2026, the withdrawal of leva banknotes and coins and their replacement with euro cash is proceeding under the established legal framework and operational plans, the Bulgarian National Bank (BNB) reported.
Bulgaria’s External Debt Surges to Over €25 Billion
Bulgaria’s external debt reached just over €25.37 billion at the end of 2025, Acting Finance Minister Georgi Klisurski reported
Bulgaria: Caretaker Cabinet Approves Amendments to Budget Extension Law
At a session of the Council of Ministers, the government approved a draft law amending and supplementing the existing budget extension legislation, the acting Minister of Finance Georgi Klisurski announced.
