Bulgaria and the Eurozone: What You Need to Know

With the official confirmation from the European institutions, Bulgaria will join the eurozone on January 1, 2026, replacing the Bulgarian lev with the single European currency. For companies, this means much more than just changing a currency symbol on an invoice. 

Bulgaria’s accession to the eurozone on January 1, 2026, is a key step in the country’s economic integration into the European Union. After more than two decades of efforts and preparation, Bulgaria will become the 21st member of the eurozone, with a fixed exchange rate of 1.95583 BGN per 1 EUR. This decision was officially approved by the European Council on July 8, 2025, following a positive assessment by the European Central Bank and the European Commission. 

The transition to the euro will bring a number of changes for both citizens and businesses. Starting from August 8, 2025, dual pricing of all goods and services becomes mandatory - prices will be displayed in both BGN and EUR. This measure will remain in effect until August 8, 2026, to support the adaptation of consumers and traders. Additionally, during the first 6 months of 2026, banks will exchange banknotes and coins from BGN to EUR free of charge and in unlimited quantities at the official exchange rate. 

What Does This Mean for Your Business? 

The transition to the euro will require functional, legal and technological changes in nearly every organization. This includes: 

1. Financial and Accounting Preparation 

• Recalculation of balances, ledgers, and contracts into EUR 

• Generation of parallel reporting in two currencies (BGN and EUR) 

• Updating VAT, audit, and archival documentation 

2. ERP and Software Compatibility 

• Support for dual-currency mode during 2025 

• Currency migration in the system - automated and controlled 

• Verification of integrations (banks, APIs, e-invoicing, SAF-T) 

3. Internal Processes and Communication 

• Staff training 

• Informing clients and partners 

• Review and update of templates, contracts, and price lists 

Is Your ERP System Ready for the Euro? 

Now is the time for businesses to ensure that their ERP system is technically and functionally prepared to operate with the new currency. This includes updating currency settings, adjusting accounting modules, recalculating prices and contracts, as well as ensuring compliance with tax and financial requirements. Timely preparation will save you from risks, costs, and operational difficulties after the euro is introduced.

💡 Navtech is already preparing its clients for the transition with a Euro Conversion Tool and ERP environment configuration according to the new requirements. 

Risks of Lack of Preparation:

• Inconsistencies in reports and tax declarations 

• Delays in the transition to SAF-T and the new currency 

• Synchronization issues between ERP, banks, and accounting 

• Penalties from regulatory authorities for incorrect data submission 

What Should You Do Now? 

1. Appoint an internal euro transition team 

2. Check if your ERP system supports multi-currency 

3. Start consultations with an integrator or IT partner 

4. Develop a strategy for internal and external communication 

5. Monitor legal updates and technical regulations from the NRA and BNB 

Useful Resources to Follow the News: 

• Bulgarian National Bank (BNB) 
  Official info, legal changes, announcements, and technical guidelines 
  www.bnb.bg 

• National Revenue Agency (NRA) 
  Current tax regulations, guidelines, and documents related to the euro transition 
  nap.bg 

• European Central Bank (ECB) 
  Main source for everything related to the eurozone and the euro currency 
  www.ecb.europa.eu 

• European Commission – Directorate-General for Economic and Financial Affairs 
  Reports, analysis, and news on eurozone enlargement 
  https://economy-finance.ec.europa.eu/euro_en 
   

Contact us and start your preparation. 

Sources:
Switching from leva to euros: when, where, and how - Capital