Dear customers, in accordance with the requirements of the Law on the Introduction of the Euro in the Republic of Bulgaria, DCA applies dual displays of the amounts related to your debts, as well as the prices of DCA assets listed for sale. All amounts will be shown in leva and euro until 08.08.2026. You can find more information by clicking the "See more" button.
See more

Bulgaria joins the eurozone as a leader in low debt

EuroBulgaria is joining the eurozone as one of the countries with the lowest debt levels, both in terms of public debt and household debt, which will have a positive impact on the debt indicators of the countries in the currency union using the single European currency. This is shown by data from Eurostat and the European Central Bank.

On January 1, 2026, Bulgaria will officially become the 21st member of the eurozone, after the European Commission (EC) voted in favor of its candidacy on June 4, and the European Parliament and the EU Council on Economic and Financial Affairs (ECOFIN) also approved the country’s formal accession to the monetary union.

Bulgaria has the lowest public debt not only among the eurozone member-states but also in the entire EU. At the end of 2024, the country’s public debt stood at 24.1% of the gross domestic product, which was the second lowest level in the EU, after Estonia (23.6%) and ahead of Luxembourg (26.3%) and Denmark (31.1%). At the end of March this year, our country’s indicator fell to 23.9% of GDP, ranking it first among a total of 27 European countries. It was followed by Estonia (24.1%) and Luxembourg (26.1%). By comparison, the average public debt-to-GDP ratio in the eurozone was almost 88%, and in the EU it was around 81%, which means that the eurozone and the EU were three and a half times more indebted than the newest member of the Currency union within the EU.

View ENG_EU and Euro area debt on Beautiful.ai

Bulgaria has been maintaining a low public debt trend for two and a half decades. Despite the nominal increase in public debt in recent years, caused by budget deficits and new borrowing, with rising incomes and reported economic growth, our country continues to be among the best performers in this indicator in relation to GDP, which is the correct way to measure a country’s debt. Moreover, households in Bulgaria have also been among the least indebted in the eurozone and the EU. According to CEIC data, at the end of 2023, Bulgarian household debt stood at 27.8% of GDP, making it among the lowest in the EU and well below the European average (~60–100%). Here, as with public debt, Bulgarian households have historically been cautious and conservative compared to their European counterparts for decades. The highest level of household debt in Bulgaria was recorded in 2009, at just over 34%, but even at this “peak,” families in Bulgaria remained far less indebted than their counterparts in the EU and the eurozone.

View EN_RMA_Overdue debt_2024 on Beautiful.ai

The low level of public and household debt ensures financial stability and calm public and private finances in Bulgaria, and guarantees creditworthiness on the threshold of the eurozone. A risk of rising indebtedness still remains given the prospects for continued budget deficits in the coming years, which are expected to increase public debt. The easier access to loans in recent years, which is expected to be further facilitated by entry into the euro area, exposes the personal and household finances of Bulgarian households to a similar risk.

Read more news here.