Bulgaria Nears Completion of Leva Withdrawal as 81% Taken Out of Circulation
As of February 6, 2026, Bulgaria continues to make steady progress in withdrawing the national currency, the leva, from circulation.
The European Commission has formally decided to suspend part of Bulgaria’s second payment under the Recovery and Resilience Plan, amounting to 214,544,232 euros, citing the country’s failure to carry out a key anti-corruption reform aimed at creating an independent oversight body.
The Commission’s decision, dated November 3, states that despite the law on the new Anti-Corruption Commission having entered into force, it does not ensure the political or functional independence required under Bulgaria’s recovery commitments. The main objections concern the National Assembly’s dominant role in nominating and electing members of the body, as well as shortcomings in the transparency and structure of the selection process.
According to the document, Brussels finds two essential milestones unmet - the establishment of a politically autonomous anti-corruption institution and the appointment of its leadership through a procedure that guarantees impartiality and openness. The Commission notes that the current framework leaves room for political interference and lacks safeguards ensuring independence from parliamentary influence.
Particular concern is raised over the powers granted to the chair of the parliamentary anti-corruption committee, who alone is authorized to verify conflict-of-interest declarations submitted by the Nomination Committee’s members. The procedure does not provide for public oversight, review, or appeal of the chair’s decisions, the Commission points out.
Another issue identified is the possibility of the evaluation methodology being approved after candidates’ names have already been made public, a sequence that, according to Brussels, undermines trust in the integrity and objectivity of the selection process.
The decision, signed by European Commissioner for the Economy Valdis Dombrovskis and addressed to the Republic of Bulgaria, specifies that Sofia now has six months to correct the deficiencies and meet the reform’s requirements. If no adequate action is taken within that timeframe, the Commission may move forward with a formal reduction of the EU grant.
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Bulgaria risks returning 143 million euros previously allocated under the Recovery and Resilience Plan (RRP) after the National Assembly voted to dissolve the Anti-Corruption Commission
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