PRESS RELEASE
12 February 2024
The Bulgarian National Bank (BNB) has finished the process of coordinating and approving the design of the Bulgarian euro coins. After achieving full legal convergence by adopting the new Law on the BNB, this is the next important step that the Bank has completed in preparing for Bulgaria’s full membership in the euro area.
The design reproduces the current symbols featured on the Bulgarian circulation coins (the Madara Horseman – on the 1, 2, 5, 10, 20 and 50 euro cent coins; St. Ivan Rilski – on the 1 euro coin; and Paisy Hilendarski – on the 2 euro coin).
The process has gone through the following stages so far:
• Signing on 6 December 2022 a Memorandum of Understanding between the Republic of Bulgaria, the euro area Member States and the European Commission on the start of the production of euro coins and the preparatory tasks prior to the start of the production.
• Adopting a Decision No 337/20 July 2023 by the BNB Governing Council on the ‘Procedure for creating the design of the Bulgarian national side of euro coins’ and the ‘Main motives and mandatory elements of the design of the national side of the Bulgarian euro coins and the edge inscription of the 2 euro coins’.
• Approving a Decision No 479/02 November 2023 by the BNB Governing Council on the design for the Bulgarian national side of all denominations of euro coins, and the graphic design for the edge inscription of the 2 euro coin.
• The approved design of the Bulgarian national side of euro coins by the BNB Governing Council has been adopted with the minutes of the meeting of the Coordination Council for the Preparation of the Republic of Bulgaria for euro area membership on 16 November 2023.
• The design has been sent for consultation to the European Commission and all euro area Member States with the BNB’s letter of 18 January 2024.
• The Council of the European Union (EU Council) approved, with a Decision (Information Note 5693/24), the design, proposed by Bulgaria, of the national side of the 1 and 2 euro coins, and 1, 2, 5, 10, 20 and 50 euro cents.
The next steps include:
• Minting euro coins with a Bulgarian national side (up to 1 million coins of each denomination) to test the quality of the minted coins and certifying the Bulgarian Mint EAD;
• Proceeding to regularly mint the necessary quantities of euro coins with a Bulgarian national side after the EU Council’s Decision on the adoption of the euro by the Republic of Bulgaria;
• Issuing euro coins with the Bulgarian elements as of the date on which the Republic of Bulgaria adopts the euro as legal tender.