The Coordinating Council for the Preparation of the Republic of Bulgaria for Eurozone Membership adopted at its meeting the updated Communication Strategy for Information and Publicity of the country's accession to the Eurozone. The update plans the phases of the campaign, taking into account the changed perspective for Bulgaria's membership on January 1, 2025, adding a number of new communication activities, and changing those foreseen in the previous strategy. This will also have an impact on adopting the euro as the official currency in Bulgaria, which is expected to begin in 2025, although official confirmation has not yet been announced. It is planned that the campaign will take place in three main phases: preparatory, actual, and actual, and the second phase will be the most intensive. The document contains a large number of details for joining the Eurozone, such as the goals, expectations, bodies that will be in charge, etc.
An updated communication strategy for Bulgaria's accession to the Eurozone was adopted
Public
Bulgaria
Author: Kristina Dosen
Category:
Fiscal subject related
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432
Content accuracy validation date:
26.10.2023
Content accuracy validation time:
09:20h
The first phase of the campaign (15–12 months before the indicative date for the introduction of the euro in Bulgaria until the date of decision-making by the Council of the EU on the introduction of the euro in Bulgaria) will be aimed at providing information about the benefits and opportunities for Bulgaria from its accession to the Eurozone. It was introduced that there will be a presentation of the special website for the introduction of the euro in Bulgaria, where citizens will find information about the entire process of introducing the euro, clarification of the measures that the authorities will take to protect consumers, the main of which will be the obligation to double indicate the prices in BGN and EUR and in what time frame, provision of information on the date of introduction of the euro, informing merchants that during the dual pricing period they will be required to display and report prices in both currencies, etc.
The second phase of the campaign (from the date of the decision by the EU Council to introduce the euro in Bulgaria to 1 month after the actual introduction of the euro) will mainly focus on practical information on the adoption of the single European currency. It will explain how the conversion of loans and deposits will be carried out, the administrative steps to be taken by legal entities, the changes in accounting, the security elements of euro coins and banknotes, how the double marking of prices in commercial establishments will be carried out, and where and how to report irregularities. All topics are important and will have an impact on fiscalization—receipts, fiscal printers, POS features, etc.
The third phase (which will start 1 month after the actual introduction of the euro in Bulgaria and end 6 months after the introduction of the euro) will be very important for the confirmation of the new currency after its official adoption as well as for increasing the confidence of citizens in the institutions. It will be aimed both at recalling key practical information and at introducing citizens to the measures that the state takes to protect consumer rights.
In general, this campaign will show at what rate the leva will be exchanged for euros after the introduction of the euro in Bulgaria, when the leva will cease to be legal tender, how the leva accounts will be converted to euros, as well as the exchange of money in cash and on accounts, where and for how long it will be possible to exchange levs for euros after the introduction of the euro in Bulgaria, and will there be any fees? Also, when will the double indication of prices in euros and levs be introduced, will inflation increase with the introduction of the euro, etc.
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