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Tens of thousands of Bulgarians flooded the streets across the country on Wednesday in escalating protests that have evolved from opposition to specific budget plans into broader demands for the government to step down. The demonstrations highlight deepening political instability in Bulgaria just weeks before the country is set to adopt the euro as its official currency.
The latest wave of protests follows rallies last week that were initially triggered by the government’s proposed 2026 budget, which included controversial measures such as higher taxes, increased social security contributions, and significant spending hikes. Though Prime Minister Rosen Zhelyazkov’s administration has since withdrawn the contentious budget plan, this concession has failed to quell public anger.
In Sofia, the capital, demonstrators gathered at a central square surrounded by the parliament, government buildings, and presidential palace. The crowd, which included university students who joined the movement, chanted “Resignation” and “Mafia” while calling for Zhelyazkov’s minority coalition Cabinet to step down. Organizers claimed the turnout exceeded last week’s protests, which had drawn over 50,000 people, with media estimates based on drone footage suggesting more than 100,000 participants on Wednesday.
At the heart of the demonstrations lies deep public frustration with the influence of Delyan Peevski, a powerful Bulgarian politician and oligarch whose MRF New Beginning party provides crucial support to the current government. Peevski has been sanctioned by both the United States and United Kingdom on corruption allegations and is accused by critics of manipulating government policy to serve oligarchic interests rather than those of ordinary citizens.
The political tension has reached parliament, where the opposition coalition We Continue the Change – Democratic Bulgaria has called for a no-confidence vote in the government. This will be the sixth such motion initiated by the opposition and is scheduled for Thursday, highlighting the persistent challenges to Zhelyazkov’s leadership.
Bulgarian President Rumen Radev, a left-leaning critic of the current administration, described Wednesday’s demonstrations as effectively a vote of “no confidence in the Cabinet” in a Facebook post. He urged lawmakers to heed the people’s voices and “choose between the dignity of free voting and the shame of dependence” during Thursday’s parliamentary vote.
The political crisis comes at a particularly sensitive time for Bulgaria, which is preparing to become the 21st member of the eurozone on January 1, 2025. The transition from the lev to the euro represents a significant milestone in Bulgaria’s European integration and economic development. The eurozone expansion is a cornerstone project of the European Union, designed to strengthen economic ties between member states and promote stability.
Bulgaria, a Balkan nation of 6.4 million people, joined the European Union in 2007 but has struggled with persistent corruption issues that have hampered its full integration into European institutions. The country consistently ranks among the EU’s poorest members and has faced criticism from European partners over its governance challenges.
Despite the intensity of the demonstrations, Wednesday’s protests concluded peacefully with no reports of violence. However, the widespread nature of the demonstrations across multiple cities indicates deep-seated discontent that extends beyond the capital.
The political instability poses questions about Bulgaria’s readiness for eurozone membership and whether the government can implement necessary economic reforms while facing such significant public opposition. Analysts suggest that resolving the political crisis will be crucial for ensuring a smooth currency transition and maintaining investor confidence in the Bulgarian economy.
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16 Comments
Interesting update on Tens of thousands join anti-government protests across Bulgaria. Curious how the grades will trend next quarter.
Uranium names keep pushing higher—supply still tight into 2026.
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Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
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Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Production mix shifting toward World might help margins if metals stay firm.
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Good point. Watching costs and grades closely.
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