Eurogroup Confirms Bulgaria’s Entry Into the European Stability Mechanism
The Eurogroup meeting concluded with an official decision that clears Bulgaria to join the European Stability Mechanism
Starting from September 1, 2025, companies transporting goods by land into the European Union will be required to submit advance customs information via the new ICS2 (Import Control System 2). This change will impact transport companies, forwarders, and all participants in international trade. Under the new system, detailed data must be provided for each shipment, including commodity codes, transport documents like CMR, container numbers, and EORI details. The purpose of the system is to enhance control and enable risk analysis before goods even reach the border.
Although penalties won't be imposed until September 2025, companies are encouraged to begin preparing now. Transport and international law expert Ventsislav Trendafilov emphasizes the importance of early preparation—both technical and documentary. He stresses that timely action can help avoid logistical delays and potential fines down the line.
The main objective of ICS2 is to conduct risk analysis ahead of the arrival of goods at the border, bolstering customs security and preventing the entry of risky or illegal imports. To ensure smooth compliance, Trendafilov advises affected carriers to register as economic operators with a valid EORI number, train staff on the new system, and consult with customs and legal professionals to update contracts and procedures.
The euro has been in use since 1999 as a non-cash accounting unit and since 2002 as physical currency.
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Public spending in Bulgaria is rising faster than revenues, driving the budget deficit upward, according to participants at the roundtable “Bulgaria’s Fiscal Policy and Sustainable Economic Vision with Eurozone Entry”, organized by the Bulgarian Associati
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