The Bulgarian National Bank will be Technically Ready to adopt EURO by the End of Year

The transition to the new currency entails a transitional period in which the lev and the euro will coexist.


During an EU parliamentary hearing, Governor Dimitar Radev of the Bulgarian National Bank (BNB) affirmed readiness to transition to the euro by year’s end. He noted that some institutions, like ‘Bulgarian Posts’, face challenges in their preparations. Radev explained that should the transition to the euro be deferred until 2025, the BNB would be fully prepared. Upon the euro’s introduction, both levs and euros will be used for a month, but change will be given only in euros. Prices will be in both currencies for six months before and a year after the euro’s introduction. Despite objections from the Vazrazhdane party about the hasty transition, Radev emphasized that preparation is necessary given Bulgaria’s integration with the European banking system. He also mentioned a communication strategy explaining the benefits of the euro and reiterated Bulgaria’s aim to join the Eurozone by 2025. 

Source: novinite.com

Jakub Warzecha

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