Deputy Minister Barbalov: Euro Adoption a Step Toward Unified and Risk-Free Economy

Deputy Minister Doncho Barbalov highlighted Bulgaria’s careful preparations for a secure and transparent transition to the euro, stressing that the process is designed to be risk-free for both businesses and citizens. He spoke during an information meeting in Lovech, part of the National Information Campaign for the Introduction of the Euro in Bulgaria.

Barbalov underlined that the transition is being managed through continuous dialogue and regular consultations with consumer organizations, regulators, business representatives, and other stakeholders. These working meetings aim to address any issues that arise during the implementation process.

He reminded traders that the grace period for dual pricing will end shortly, and from October 8, all products must display prices in both leva and euros. Following this date, active inspections will begin, with fines possible for non-compliance. Preliminary checks indicate that traders are generally adapting correctly to the new labeling requirements.

The Deputy Minister noted that the Ministry of Economy carries out monthly monitoring of international prices for 30 essential goods and services. Since July, these prices have remained stable, indicating no external pressures from international markets that could affect domestic pricing. These monitored goods are significant because they influence business costs in producing various products.

Barbalov emphasized that adopting the euro is a national priority requiring unity, consistency, and close cooperation among the state, businesses, and citizens.

The meeting brought together representatives from the Bulgarian Academy of Sciences, the Bulgarian Competition Commission, the National Revenue Agency, the Financial Supervision Commission, the Ministry of Finance, the Association of Banks, as well as officials from local authorities, non-governmental organizations, businesses, and members of the public.