Bulgaria is preparing a secure and transparent transition to the euro, with the goal of ensuring that the process poses no risk to businesses or citizens. This was stated by Deputy Minister of Economy and Industry Dontcho Barbalov in Lovech during an information meeting, part of the National Information Campaign for the Introduction of the Euro in Bulgaria.
Deputy Minister Barbalov emphasised that the planned transition to the euro is being implemented through ongoing dialogue and regular communication with consumer organisations, regulators, businesses, and all stakeholders, by holding working meetings where emerging issues are discussed.
“The grace period expires in a few days, and from 8 October, all traders in the country will be required to display product prices in both leva and euro on price labels. After this date, active inspections will begin, with the possibility of fines being imposed,” Barbalov added.
According to him, following preliminary checks, traders are striving to comply and implement the new labelling rules correctly.
The Deputy Minister of Economy explained that the Ministry conducts monthly monitoring of international exchange prices for 30 essential goods and services. He noted that since July, these prices have remained stable, which indicates that there are no international market factors that could exert pressure on domestic prices. He added that the monitored goods are significant as they contribute to businesses’ production costs for various products.
Barbalov highlighted that the introduction of the euro is a national priority requiring unity, consistency, and close cooperation between the state, businesses, and citizens.
The meeting was attended by representatives of the Bulgarian Academy of Sciences (BAS), the Commission for Consumer Protection (CCP), the National Revenue Agency (NRA), the Financial Supervision Commission (FSC), the Ministry of Finance, the Association of Banks in Bulgaria, as well as representatives of local authorities, non-governmental organisations, businesses, and citizens.