Bulgaria: Date for Replacing Lev with Euro Is Set for 1 January 2024

Business » FINANCE | March 5, 2021, Friday // 14:10
Bulgaria: Bulgaria: Date for Replacing Lev with Euro Is Set for 1 January 2024

From 1 January 2024 Bulgarians will pay with Euros in stores. This is the indicative date for Bulgaria's entry into the Euro area.

It is mentioned in a draft amendments to the decree of the Council of Ministers, which regulates the activities of the Coordination Council for preparation of Bulgaria for membership of the Euro area.

By 30 June 2021, the Coordination Council must draw up a draft National Plan for the introduction of the Euro in Bulgaria. The Co-Chairs of the Council will be the Minister of Finance and the Governor of the BNB, the amendments envisage.

The obligations of Bulgarian institutions with regard to the introduction of the Euro currency are also described. For example, the BNB will be responsible for the ATM software so as to ensure that they work with Euro banknotes. BNB is also responsible for the design of the Bulgarian Euro coins.

The Council’s Working Party on Consumer Protection will monitor the recalculation of prices from BGN to EUR in order to overcome the vicious practice of sellers rounding up prices. A campaign for a "fair introduction of the euro" will also be initiated.

The Council's Communication Working Party will print information materials for different target groups (students, pensioners, households, people with special needs, ethnic minorities). It will also maintain a dedicated euro information site.

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Tags: Bulgaria, Euro introduction, date
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