November 4, 2022
“The prices on store shelves and on receipts will be listed in both euros and levs five months before we adopt the euro and one year after that. And one month after the euro’s official introduction, we’ll still be able to make payments in BGN, but we’ll get our change back in euros.
Atanas Pekanov, the deputy prime minister in charge of overseeing European money, provided an explanation of this on Nova TV. He continued, “We are working to adopt the euro in 2024.”
“The receipt will have a QR code that displays the exchange rate once the euro is officially introduced. If the exchange rate deviates from what it ought to, it will be possible to notify this to the Ministry of Finance. This will continue a year, Pekanov said.
After Bulgaria joins the Eurozone, all banks and post offices will offer free lev to euro conversion for six months.
Sites may be shut down if traders misuse the exchange rate. According to Pekanov, “in some nations, blacklists are created, in which all items abusing the exchange rate are described. There will be a phone number that residents can use to report violations.
Minister Pekanov indicated that the monthly payments on the loans will start to decrease.
“They will profit if the general interest conditions in Bulgaria are eased, which they will be, and if citizens are given the option to renegotiate or have a variable interest rate. Their credit will be 8%, 7%, or 5% instead of 10% when refinancing or financing, “Pekanov noted.
He claims that shortly the symbol to be used on the Bulgarian euro coins will be chosen.
Source: novinite.com
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