Ministry of Finance to hold 100 information events by the end of the year
Nearly 60% of Bulgarians do not feel informed about the euro and do not know basic things about the introduction of the currency. This is according to a survey by Alpha Research commissioned by the Ministry of Finance. 1200 people over 16 years old were surveyed at home. The survey was done in April and May.
Fewer than half of respondents expressed confidence in their ability to adapt to the euro. The rest reported doubts—some fearing potential difficulties, while others believed they would not be able to use the currency effectively at all.
The fears are primarily concentrated among older individuals, particularly those living alone, and among people with disabilities in higher age brackets,” said Boryana Dimitrova of Alpha Research.
Sociologists point to a significant lack of public awareness. Only 9.6% of those surveyed said they felt well-informed, while more than 20% stated they had no information whatsoever.
“By the end of the year, as part of the joint information campaign by the Ministry of Finance and the Bulgarian National Bank, we plan to hold more than 100 events nationwide. These will include meetings with citizens, local businesses, municipal and regional administrations,” said Temenuzhka Petkova, Minister of Finance.
The research shows that most respondents are unaware of key aspects of the euro transition. For example:
There is also a lack of information about dual pricing, currency exchange fees, and the exact date when the euro will be introduced. Businesses are uncertain about how tax declarations will be formatted, what their obligations will be during the dual circulation period, and how to recalculate company capital, assets, and liabilities.
Some people are firmly convinced that joining the eurozone will result in salaries and pensions being halved, while prices will double—fears that range from legitimate economic concerns to the result of manipulative misinformation.
When asked whether they support Bulgaria’s entry into the eurozone, the population is evenly split, while support among businesses is significantly stronger—over 65%.
“There is a practical parity in public opinion between those who support and those who oppose the eurozone. The second key finding is the clear increase in public approval over the past three years,” Dimitrova noted.
In the short term, over half of respondents expect negative consequences. However, in the long term, the trend shifts, with 48% anticipating positive effects.
“Over the long term, the majority of Bulgarians clearly believe that the benefits of eurozone membership are substantial,” commented Minister Petkova.
The main concerns among the public relate to price increases, high inflation, and the risk of fraud.
“If there is one business group experiencing greater concern, it is microbusinesses. In Bulgaria, a large portion of businesses are companies with between 0 and 9 employees. These firms often lack the resources for accounting services and financial transactions, and they need both more information and greater support,” Dimitrova added.
The Ministry of Finance’s official euro information campaign is expected to begin after July 8, when the official euro adoption date is also expected to be announced.