Bulgaria’s February 27 Retail Chains Boycott Expands to Include Banks Amid Rising Fees

Society | February 24, 2025, Monday // 13:12
Bulgaria: Bulgaria’s February 27 Retail Chains Boycott Expands to Include Banks Amid Rising Fees

On February 27, a new boycott is set to take place in Bulgaria, extending its focus beyond just retail chains to include banks. This call for action follows previous protests against the rising prices of food, with organizers now targeting what they describe as excessive bank fees. Among the key figures leading the initiative are Maya Manolova and Tanya Mircheva, who have expressed frustration over the continuous increases in bank fees. According to them, fees have surged by an average of 140% in recent years, which they liken to the gradual boiling of a frog—small increments that have added up significantly.

The boycott organizers urge citizens to refrain from using bank cards for payments, instead opting for cash transactions. Additionally, they are calling for people to avoid bank transfers as a form of protest against the banking sector's rising charges. The aim is to pressure lawmakers into addressing what they see as "excessive" bank profits, with specific demands for a cap on bank fees.

Petar Petrov, another leader of the movement, emphasized that the protests will persist until the government listens to their concerns. He lamented that those in power have failed to hear the voices of the people who are suffering due to high costs. As part of the protest, the organizers have also planned a symbolic event at 6:00 PM on the same day, in front of the Bulgarian National Bank. There, they will highlight the issue of bank fees by displaying their scale and illustrating how the fees negatively impact both citizens and businesses. The protest will also include demands for a significant reduction in these fees.

Maya Manolova reiterated the call for action, stressing that the ongoing protests aim to make clear the mechanisms by which banks are profiting at the expense of the population. The organizers are committed to keeping up the pressure until their demands for fairer banking practices are addressed.

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Tags: boycott, Bulgaria, banks, retail

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