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Bulgaria sets price controls as euro transition nears
Published by Global Banking & Finance Review®
Posted on July 30, 2025
2 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on July 30, 2025
2 min readLast updated: January 22, 2026
Bulgaria enacts price controls as it transitions to the euro, with dual pricing starting by October 8 and full adoption in January.
SOFIA (Reuters) -Bulgaria's parliament on Wednesday passed legislation introducing year-long price controls from August 8, a part of its technical transition process before adopting the euro currency in January.
The move comes after European Union finance ministers set the conversation rate of the Bulgarian lev to the euro this month, the final step for Bulgaria to become the 21st member of the euro zone.
Last month EU finance ministers gave formal support to the Bulgaria joining the euro after positive assessments of the country's readiness from the European Commission and the European Central Bank.
The law includes a grace period lasting until October 8 during which businesses are expected to begin dual labelling of prices and issue receipts showing amounts in both lev and euros, parliament's website said.
The legislation will enable the government to implement temporary countermeasures in case that the prices of basic staples and services rise sharply.
Sanctions for traders found to manipulate the prices unfairly will range from 2,556 euros ($2,930) to 511,290 euros ($586,245), and large retailers will be required to post the final sale prices of all basic staples and services on their websites daily under the law.
Bulgaria has been striving to switch from the lev to the euro since it joined the European Union in 2007. But many Bulgarians have lost their initial enthusiasm, with 50% now sceptical about the euro and fearing the currency switch will drive up prices.
Croatia was the last EU member country that joined the grouping at the start of 2023, and the accession of Bulgaria in 2026 will leave only six of the 27 EU countries outside it: Sweden, Poland, Czech Republic, Hungary, Romania and Denmark.
($1 = 0.8721 euros)
(Reporting by Daria Sito-Sucic and Stoyan Nenov; Editing by Alison Williams)
The euro is the official currency of the Eurozone, used by 19 of the 27 European Union countries. It was introduced to facilitate easier trade and economic stability among member states.
Dual pricing refers to displaying prices in two different currencies, allowing consumers to see the cost in both their local currency and a foreign currency, such as euros.
The Bulgarian lev is the currency of Bulgaria. It is subdivided into 100 stotinki and is set to transition to the euro as part of Bulgaria's integration into the Eurozone.
The European Central Bank (ECB) is the central bank for the euro and administers monetary policy within the Eurozone, aiming to maintain price stability and support economic growth.
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