2024-03-27 10:13:01
The effect of the introduction of the euro on the increase in prices is minimal – within 0.1-0.2%. This was commented by the economist Petar Ganev to NOVA. Financial analyst Preslav Raykov also stated that the purchasing power will not change after our entry into the Eurozone. “In the medium and long term, it will only increase,” said Raykov.
Yesterday, the Ministry of Finance published for public discussion the bill related to the single currency. It lists the main changes related to the change. The document makes it clear how long we will pay in both currencies and in what period we will have to exchange our available BGN.
Economist Georgi Angelov explained that the rounding of pensions when switching from levs to euros will be up, within one euro cent. He added that currency conversion in banks will be done without additional fees, at the official exchange rate, not at the bank’s.
Preslav Raykov gave an example of the introduction of the euro in Croatia, where the effects on the economy and tourism were only positive. “The fear that there will be some kind of monstrous inflation and the Croatian economy will freeze has not happened,” said Raykov.
Petar Ganev said that the big challenge for merchants will be the one-month period in which it will be possible to pay with both currencies. He expects Bulgaria to cover the inflation criterion for joining the Eurozone at the end of the year.