First Day with Only Euro in Bulgaria: Complaints Arise but Transition Remains Mostly Smooth

The first working day with the euro (only!) in Bulgaria passed without major disruptions, although authorities received numerous complaints, mostly linked to technical issues rather than deliberate overcharging or misunderstandings by businesses. Ignat Arsenov, Director of the Main Directorate "Market Control" at the Consumer Protection Commission, told the program Nova TV that the transition overall went smoothly and safely.

Further reading: From Today: Bulgaria Switches to Euro-Only Payments, No More Lev!

Arsenov noted that monitoring continues, particularly for essential goods within the small consumer basket. Most complaints came from the service sector, affecting vending machines, parking lots, restaurants, and entertainment venues. He stressed that double pricing in both lev and euro will remain in effect until August 8, and inspections by the Consumer Protection Commission will continue to ensure compliance. Consumers who encounter violations can report them, with penalties ranging from €2,500 to €50,000.

Lyubomir Datsov, member of the Fiscal Council and former Deputy Minister of Finance, said that, despite minor flaws, the euro transition was well-organized and Bulgarians adapted quickly. He highlighted that the most significant challenges were financial burdens on traders and insufficient government-led information campaigns.

Datsov explained that in other countries joining the eurozone, the bilateral payment period typically lasts two weeks, allowing both currencies to be used simultaneously without burdening merchants. In Bulgaria, however, businesses effectively became exchange offices, covering substantial costs associated with handling the new currency. He suggested that future entrants to the eurozone adopt the standard two-week period to avoid placing excessive operational and financial pressure on retailers.