While Bulgaria Changes the Currency, Fuels and Cigarettes Will Be Only in Euros

With Bulgaria set to adopt the euro, a transitional period will begin, during which prices for goods and services will be displayed in both levs and euros. This dual pricing phase will start one month following the official decision by the EU Council to adopt the euro and will last for 12 months. However, certain items and services will only display prices in euros. This includes cigarettes, fuel at gas stations, and taxi fares.

Despite the exclusive euro pricing for these goods and services, traders are required to indicate prices in Bulgarian levs in another clear manner to avoid misleading consumers. The draft law concerning Bulgaria's euro adoption, recently passed in a second reading by the budget committee, details these provisions.

The committee did not approve a proposal by Dimo Drenchev from the "Revival" party to extend the period during which both euros and levs could be used for payments from one month to three months. Additionally, a proposal for "Bulgarian Posts" to offer commission-free currency exchange for a year was also rejected.

Finance Minister Ludmila Petkova explained that the bill has been coordinated with the European Commission and the European Central Bank, and significant changes would require reapproval. She assured that citizens can exchange levs for euros at no cost at Bulgarian National Bank (BNB) branches indefinitely. The proposal to extend the dual currency payment period was dismissed, as it might complicate financial reporting for businesses.

For the first six months post-euro introduction, free exchange of levs for euros will be available at commercial banks and post offices. Beyond this period, commissions may apply, except at BNB branches, where exchanges will remain fee-free. Accounts will be...