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.
In a recent interview on Dir.bg’s program "The European Parliament in Focus," Tsvetelina Penkova, MEP from the S&D Group, addressed growing tensions between the European Commission (EC) and the European Parliament (EP) regarding the proposed Multiannual Financial Framework, which bundles 860 billion euros for regional development and agricultural support under a single funding umbrella. Penkova noted that the EC could use this approach as a political tool, deciding which countries receive funding and which do not. She stressed that all parliamentary groups in the EP will insist on a review of the seven-year budget.
Penkova also discussed Bulgaria’s position on the European energy map, particularly regarding nuclear energy, a sector identified as key in the EU. She pointed out that many officials in Brussels are asking why Bulgaria has not completed the Belene Nuclear Power Plant project. She clarified that there is a widespread misconception that the EU has blocked the project, which is not the case.
Several additional points from Penkova’s remarks highlighted shifts in EU energy and budget policy. For the first time, the EU’s multiannual budget includes funding earmarked specifically for new nuclear power plants, totaling 9.5 billion euros (approximately 19 billion BGN). She also warned that if the EC is dissatisfied with a government, it can withhold funding, while the direct dialogue between regions and European institutions is interrupted, limiting the ability of regional authorities to independently request project financing.
Penkova’s comments underline the intersection of EU financial oversight, energy policy, and Bulgaria’s strategic decisions in both areas, emphasizing the political and technical challenges facing the country in implementing major infrastructure projects like Belene.
The initial drilling effort in the Han Asparuh block (offshore oil and gas exploration area) of the Bulgarian Black Sea, named Vineh-1, did not uncover significant natural gas reserves, according to Offshore-energy
Starting today, the Ministry of Energy and the Energy Regulatory Commission (EKVR) are conducting extraordinary inspections of electricity distribution companies and end suppliers,
In Bulgaria, fuel prices remain largely unchanged, with the international oil market continuing to respond to tensions between the United States and Iran.
Bulgaria is among the EU countries that experienced a notable drop in the use of renewable energy for heating and cooling in 2024, with the share declining by 1.9 percentage points compared to the previous year.
Russia’s oil giant Lukoil, which is under U.
Bulgaria and the United States have agreed to step up cooperation in the energy sector by setting up a joint expert structure to work on priority projects of shared strategic importance.
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