The government will act firmly against any attempt to unjustifiably raise prices in the context of Bulgaria’s upcoming adoption of the euro, Finance Minister Temenuzhka Petkova stated during her first public appearance since the European Commission and European Central Bank issued positive reports on the country’s progress toward eurozone membership. Speaking at the 2025 edition of The Sound of Money financial forum, Petkova emphasized that concerns about purchasing power are being fueled by political actors, but assured that the government has already taken concrete steps to prevent abuse.

She highlighted the roles of the Consumer Protection Commission, the Competition Protection Commission, and other key state institutions in maintaining market stability. "Together we will manage this critically important task," the minister said. Petkova reiterated the anticipated benefits of the single currency - increased economic growth, enhanced financial stability, greater foreign investment, lower borrowing costs, and stronger international competitiveness.

According to her, the Bulgarian government is fully prepared for euro adoption as of January 1, 2026. The adoption of the Law on the Introduction of the Euro has laid the groundwork for a well-structured and clearly defined transition. She emphasized that the success of the process will depend on how mobilized and coordinated the institutions are.

Petkova also reported on two significant decisions made by the Council of Ministers. First, a memorandum was adopted to formally involve the Bulgarian business sector in the euro transition, reinforcing the government’s intention to ensure joint implementation with the private sector. Second, a new coordination council has been established, composed of representatives from all relevant institutions, which will oversee the process in detail.

She stated that by the end of June, the Eurogroup is expected to consider the convergence reports and issue a recommendation to the Council for Bulgaria’s entry into the eurozone. This would then be followed by a European Council discussion and a final decision by ECOFIN, as well as an opinion from the European Parliament. In parallel, the nationwide information campaign on the euro has officially launched and will be further expanded.

In her closing remarks, Petkova thanked everyone involved in the years-long effort to secure Bulgaria’s accession to the euro area.

At the same time, Deputy Prime Minister Tomislav Donchev also underscored the importance of guarding against speculative practices as the country moves closer to adopting the euro. He noted that Bulgaria’s priorities over the next six months should focus both on the technical organization of the transition and on preventing manipulation of prices.

According to Donchev, lessons from other eurozone countries show that switching to the single currency does not inherently cause inflation. Even if slight fluctuations occur during the first month, they tend to be temporary and not a driver of broader price increases. He stressed that the adoption of the euro should not derail the country’s budget discipline.

“Feeling more secure doesn’t give you license to spend more than you earn,” Donchev concluded, reaffirming the state’s commitment to fiscal responsibility alongside a tightly managed euro integration process.