Bulgaria’s cabinet adopted the Operational Plan for the introduction of the euro in 2024

At its weekly sitting,on May 27, the government adopted the national plan for the introduction of the euro in Bulgaria in 2024.

This is the operational plan, which gives clear deadlines and tasks to the institutions - how the currency conversion will take place, the conversion of saving deposits, loans, how the registry agecnies will work, so that on January 1, 2024 we can be technically ready to switch to the euro, Deputy Prime Minister and Minister of Finance Asen Vassilev.

A number of legislative changes are to be made, including amendments to the Bulgarian National Bank Act and public discussions before that, he said.

3 months before and 9 months after the introduction, prices will be published in BGN and euro to protect consumers. The rate is fixed - it is the current rate, Vassilev explained in response to a question by BNT.

“The coalition agreement states that the euro should be adopted as soon as possible. The technical preparations for joining the euro zone on January 1 2024 takes 18 months, so we do not have a lot of time,” Vassilev said.