Bulgaria’s Watchdogs Unite to Combat Speculation Ahead of Euro Adoption

In a coordinated move ahead of Bulgaria’s planned euro adoption, the National Revenue Agency (NRA), the Commission on Consumer Protection (CCP), and the Commission on Protection of Competition (CPC) signed a joint cooperation agreement aimed at cracking down on unjustified price hikes and other unfair commercial practices. The three regulators are aligning efforts to ensure that neither consumers nor honest businesses are harmed by speculative behavior during the transitional period leading up to January 1, 2026.

At a joint press conference, representatives of the agencies announced the rollout of a broad inspection campaign. Checks have already started in more than 150 stores across over 30 cities, initially focusing on 14 main food categories. However, the scope of monitoring is set to expand to other goods and services. According to NRA Director Rumen Spetsov, the idea is to closely examine price increases and evaluate whether they are economically justified, emphasizing that the authorities will not intervene in trade markups directly, but will scrutinize cases where abuse is suspected.

The goal, officials stressed, is to protect the interests of citizens and the integrity of the market. Spetsov made it clear that traders along the entire supply chain - from manufacturers and importers to retailers—should be vigilant and transparent. The three bodies warned that while they won’t obstruct regular business operations, violations will be met with the full force of state enforcement.

Among the key elements of the new agreement is a commitment to more frequent and extensive on-site checks. The regulators also published sample templates on the CPC’s website to help retailers correctly label prices in both leva and euros, following reports of confusing or misleading dual pricing in some chains. CPC Chair Maria Filipova cited instances where euro prices were written on red promotional stickers—normally used to signal discounts—causing uncertainty among consumers. She urged businesses to use the official examples provided to avoid misleading practices.

Alongside consumer protection, tax and social security compliance are also under review. Anna Mitova from the NRA confirmed that the inspections, initiated following instructions from Prime Minister Rosen Zhelyazkov, are targeting not just pricing but also document verification and compliance with fiscal rules. In cases where prices have risen, the NRA expects a proportional increase in declared VAT. If not, further scrutiny will follow.

Filipova underlined that this inter-agency cooperation represents an unprecedented level of coordination and determination. She framed the alliance as a strong, unified front against any trader who seeks to exploit the upcoming currency switch at the expense of the public. “All our actions are in defense of people’s interest,” she said firmly.

Citizens who suspect violations can file complaints through multiple channels—including the NRA’s call center, email, postal mail, or the official communication platforms of the CCP and CPC. The agencies vowed to respond decisively to each report.

In the words of Nikolay Valkanov from the Association for Modern Trade, traders who deliberately mislead customers risk not only state sanctions but also swift consumer backlash. “People will see, they’ll talk, and the trader will lose their customers instantly,” he warned.