The guiding principle in Bulgaria’s Law on the Introduction of the Euro is consumer protection, and the transition to the single currency should not result in higher prices for consumers. That’s what Maria Filipova, Chair of the Consumer Protection Commission (CPC), emphasized in an interview with the Bulgarian National Radio.

According to Filipova, if the EU Council gives the green light for Bulgaria to join the eurozone on July 8, the country could begin the transition as early as August 8. From that date, it would be mandatory for all prices to be displayed in both leva and euros. She explained the standard method for converting prices: for example, a product costing 2 leva is divided by the fixed exchange rate of 1.95583, giving a result rounded to the third decimal place. If the third digit is 5 or higher, rounding is done up. So, 2 leva becomes 1.2 euros (2 ÷ 1.95583 = ~1.022, which rounds to 1.2).

Filipova also announced that the CPC has already launched preventive actions alongside the Commission for Protection of Competition, aimed at monitoring how businesses respond to the upcoming currency switch. These joint inspections will continue for at least a year and a half, possibly two years.

She pointed out that the draft law on the agri-food chain, which proposes limits on trade markups, is still awaiting adoption. Under this proposed legislation, the CPC would be the main oversight body, with responsibilities including a newly developed traceability system that would track pricing and markup practices throughout the supply chain. Sanctions for violations could reach up to 300,000 leva. The law also foresees the creation of a digital register to monitor all participants in the chain. Inspections will be both routine and unannounced, covering not just retailers, but also producers and suppliers, and will include document checks.

In addition, the Commission has begun inspecting restaurants and entertainment venues to ensure that they too are preparing to show prices in both currencies. This is part of the broader effort to maintain transparency throughout the economy.

Filipova also revealed plans for a dedicated website, where the CPC aims to publish weekly pricing information from large retail chains, including promotions and discounts across all goods. To avoid any breach of competition laws, this data would be released one week in advance. The idea is to allow consumers to track pricing trends and ensure accountability. However, the website hasn’t launched yet. Only one chain has agreed to participate so far, while others appear to be waiting for a formal EU decision on Bulgaria’s eurozone entry.

Source: BNR interview