In an interview with BNR, Deputy Minister of Economy and Industry Nevena Lazarova commented on the convergence reports of the ECB and the EC, which positively assessed Bulgaria's readiness to adopt the euro. According to Lazarova, the introduction of the single currency will stimulate the Bulgarian economy, trade and investments, as well as lead to an increase in incomes and purchasing power of citizens.
Lazarova explained that businesses already have instructions on how to go through the process of introducing the euro. She stressed that the rules for currency conversion and rounding should be known, using the official exchange rate with 6 digits and 5 decimal places. The period of dual pricing will start 1 month after the date of entry into force of the decision to adopt the euro and will continue for 12 months after its introduction.
The Deputy Minister of Economy pointed out that prices must be written legibly, unambiguously and clearly, with the same font, so as not to mislead consumers. She explained that the period of dual circulation of the lev and the euro, which begins from the date of introduction of the euro, is particularly important. During this one-month period, banknotes and coins in levs will remain a legal tender, and when paying in cash - in levs or euros, the rest will be returned in euros, but if there are not enough funds, it may also be in levs.
Lazarova added that during the period of dual pricing, the final amount due from the consumer on the fiscal receipt from the cash register will be shown in both euros and levs. She informed that the "Non-Financial Sector" working group within the Coordination Council for Bulgaria's preparation for eurozone membership, led by the Ministry of Economy and Industry, has recently developed and published guidelines for the application of the accounting provisions set out in the Euro Act, as well as guidelines for adapting businesses' information systems to work with the new currency.
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