Retail Chains in Bulgaria Begin Displaying Prices in Euros Ahead of 2026 Adoption
Large retail chains in Bulgaria have begun displaying product prices in both levs and euros as of today
The proposed new regulations for retail chains will considerably harm the local FMCG producers, warned the European retail organization EuroCommerce.
In a letter, sent to the leaders of the parliamentary represented parties, quoted by Mediapool.bg, EuroCommerce warns that the proposed amendments to the Competition Protection Act, which are meant to offer better protection to the local producers, will have the opposite effect.
According to the organization, the proposed restrictions on the large FMCG retail chains will force them to turn to international suppliers, rather than local ones.
EuroCommerce, which has over 6 M members from 31 European countries – retail chains, suppliers, distribution companies, etc. - pointed out that the proposed restrictions and regulations for retail companies with over BGN 50 M annual turnover, is a form of discrimination. According to the organization, they were violating the European law and principles of free movement of goods and services and the right of free negotiations.
“There is a risk of encouraging the retailers to turn to international suppliers,” the letter said. “This would lead to weakening of local production, which surely is not the goal of the amendments.”
The amendments to the Competition Protection Act are due to be discussed in Parliament at second reading this week.
In recent weeks, Bulgaria has seen a noticeable uptick in demand for euro banknotes
The adoption of the euro in Bulgaria is not expected to cause fast loans to become more expensive
With the tourist season now underway and the first waves of visitors arriving at the Northern Black Sea resorts, employers are once again facing a familiar and worsening challenge
Although converting leva into euros may appear straightforward - just divide by the fixed rate of 1.95583 - reality brings far more complexity
The Bulgarian National Bank will stay the course with its conservative and stability-oriented monetary policy even after the country enters the eurozone
The demand for euros in Bulgaria has surged by about 50%
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