Send to Kindle
The municipal councils in Kozloduy and Krivodol have become the first in Bulgaria to implement dual pricing for municipal services, taxes, and fees. Following the Euro Adoption Act, which took effect in August 2024, the two municipalities have updated 15 ordinances to reflect prices in both leva and euro. However, the euro-based prices will only be valid once Bulgaria officially joins the eurozone.
The changes are designed to inform the public and prevent speculative pricing ahead of the currency switch, as explained by the local administrations. These moves align with the National Plan for the Introduction of the Euro, which emphasizes the important role municipalities play in the transition due to their involvement in a variety of public services.
The deadline for municipalities to review and amend their regulations is set for February 24, 2025, and these changes are expected to be finalized by the end of the month, alongside the adoption of municipal budgets.
We remind you that Parvomay Municipality became one of the first to implement euro-related changes as part of the country’s preparation for euro adoption. The local council has approved amendments aligning with the Euro Adoption Act, converting taxes, fees, and fines into euros across 17 ordinances. Mayor Nikolay Mitkov assured that the conversion would maintain the current value of services, with adjustments rounding values in favor of residents. While some locals expressed skepticism and concern about potential price hikes, others are more optimistic, believing that wage adjustments can prevent price increases. Meanwhile, Plovdiv Municipality is also preparing for the euro transition, with updates to regulations and systems expected to be completed soon.
Sources:
At a banking awards ceremony, Prime Minister Rosen Zhelyazkov called on retailers and service providers to avoid speculative pricing
The political party “Da, Bulgaria” (Yes, Bulgaria) has submitted a new legislative proposal aimed at increasing transparency in food pricing
Westinghouse Electric Company has strengthened its Bulgarian supply chain for the Kozloduy AP1000® project, signing memoranda of understanding with seven Bulgarian companie
The final shipment of Russian nuclear fuel for Bulgaria's Kozloduy Nuclear Power Plant has arrived
Bulgaria considers the construction of the 7th and 8th units of the Kozloduy Nuclear Power Plant (NPP) a strategically important project for ensuring the country's energy security
In Krivodol, a municipality in Northwestern Bulgaria, local authorities are taking steps toward the eurozone transition well ahead of the February 20 deadline
The Bulgarian National Bank (BNB) projects that Bulgaria’s real GDP will continue expanding steadily over the coming years
Two leading global credit rating agencies, Fitch Ratings and S&P Global Ratings, have raised Bulgaria’s long-term foreign currency credit rating to ‘BBB+’ with a stable outlook, marking the highest level in the medium investment-grade tier
The adoption of the euro inevitably brings a degree of unease and uncertainty, much like the introduction of the currency board in the 1990s
Loan interest rates in Bulgaria are expected to stay stable even after the transition to the euro
The Ministry of Finance has introduced an online currency conversion calculator, now available on the official euro adoption website for Bulgaria - evroto.bg
The Bulgarian National Bank (BNB) is launching the minting of Bulgarian euro coins this week
Borderless Bulgaria: How Schengen Benefits Are Transforming Trade and Logistics
Bulgaria's Mortality Rate Remains Highest in Europe
