Ryanair Reveals Top Christmas 2024 Destinations for Bulgarian Travelers
Ryanair has announced its top Christmas 2024 destinations for Bulgarian travelers, offering nearly 50,000 flights from over 235 locations during the festive season
Retail chains in Bulgaria are actively preparing for the transition from the Bulgarian leva to the euro. Nikolay Valkanov, the executive director of the Association for Modern Trade, stated on Nova TV that ongoing discussions with relevant departments are focused on coordinating activities associated with the euro's introduction. He emphasized that there has been a productive dialogue with the Ministry of Economy and the Commission for Consumer Protection. The regulatory framework established by the previous Parliament has largely satisfied businesses, providing clarity on requirements such as dual pricing labels, fiscal receipt designations, and other technical matters crucial for traders' operations. Valkanov noted that the transition will be a long and complex process.
He highlighted that several indicators are being monitored to determine the timing of the transition from leva to euro. "From March, we should have dual price indications in stores. However, this also hinges on the specific date that will be set," he explained. Vulkanov pointed out that to achieve a favorable convergent report, the final criterion regarding inflation must be formally met.
Additionally, he discussed the current state of food vouchers, which have been converted to electronic formats for greater convenience for both consumers and retailers. While electronicization typically reduces maintenance costs, in this case, they have increased by 1.8% due to bank fees. Valkanov warned of potential market imbalances as food vouchers have dramatically increased in recent years, now accounting for 8-9% of retail food and beverage sales.
Valkanov proposed two potential solutions regarding electronic vouchers. One option allows the Minister of Finance to regulate voucher operators' expenses annually, while the other involves rethinking the voucher policy altogether.
Stanislav Popdonchev, Deputy Chairman and Financial Director of the Bulgarian Chamber of Commerce, expressed concerns over Bulgaria's economic direction
Inflation is expected to rise moderately at the beginning of 2025, according to the Bulgarian National Bank (BNB)
Bulgaria could potentially adopt the euro on July 1, 2025, if all the necessary steps are taken within the required timeframe
According to recent Eurostat data, Bulgaria continues to hold the lowest average salary within the European Union.
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