Levs to Euros: Political Uncertainty in Bulgaria Unlikely to Halt Currency Transition

The Bulgarian Parliament has approved the regulations for replacing the lev with the euro, even though Bulgaria has not yet met the criteria for joining the Eurozone. The process for the currency transition is now outlined, despite the country's current political challenges. Preslav Kitipov, chairman of the Association "Institute of Certified Financial Consultants," and financial consultant Deyan Vasilev discussed the matter on NOVA NEWS.

Kitipov emphasized the law's importance for consumers, as it dictates how prices will be listed and the timeframe for exchanging levs for euros. These rules will help guide the public through the transition to the new currency.

Vasilev noted that inflation in Bulgaria is expected to stabilize by the end of the year. He also mentioned that, despite the ongoing difficulties in forming a regular government, Bulgaria has been technically preparing for the currency conversion for many years.

Vasilev added that, despite the political situation, the economy is performing well. He expressed confidence that institutions can effectively manage this technical transition to the euro.

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