The Bulgarian lev (BGN) is the official currency of Bulgaria. While Bulgaria is an EU member state, it has not adopted the euro as its currency. But this will be changed soon. More specifically, there are some indications that this topic will be relevant next year. A debate on the euro will start at the beginning of next year. Everything depends on the parties and the government that will be formed, but everything also depends on how the deputies will vote in parliament.
The adoption of the euro currency in Bulgaria
Public
Bulgaria
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
872
Content accuracy validation date:
04.10.2022
Content accuracy validation time:
08:14h
Let us remind you, certain meetings and adoptions of certain acts are confirmed in June 2021. They state that the target date for Bulgaria’s accession to the eurozone is January 1st, 2024. The introduction of the euro is planned without a transition period, and the date of adoption of the euro will coincide with its introduction as an official payment unit. The conversion will be carried out by applying the irrevocably fixed exchange rate between the euro and the leva. And after the introduction of the euro within a month, the lev and the euro will be legal tender at the same time. Bulgaria intends to accept the euro as its official currency from January 1, 2024, without a transition period—all commercial establishments in the country will be obliged to accept the euro from the first moment of its adoption. At the present time, it remains unclear how that will affect the rules, especially fiscal receipt.
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