The Bulgarian National Bank (BNB) has released the second part of its Q&A series on Bulgaria’s upcoming eurozone entry, focusing on eurozone governance and monetary policy. Key changes include a shift to the ECB’s monetary framework, reduced reserve requirements for Bulgarian banks, and increased capital contributions to the ECB. The BNB continues its public education campaign to ensure a smooth and transparent transition to the euro.
Bulgarian National Bank Clarifies Eurozone Accession Process Regarding Introduces the Euro as an Official Currency in Bulgaria
Public
Bulgaria
Author: Nikolina Basić
Category:
General subject related
Views:
1856
Content accuracy validation date:
11.04.2025
Content accuracy validation time:
08:19h
The Bulgarian National Bank (BNB) has published the second installment of its "Questions and Answers on the Euro and the Eurozone" series, providing further insights into Bulgaria's anticipated transition to the eurozone. While the first installment addressed consumer-focused concerns such as inflation, currency conversion, and product labeling, the latest release delves into the structure and governance of the eurozone and its monetary framework.
A central question raised in the new release focuses on the governance of the Eurosystem. According to the BNB, the monetary policy of the Eurosystem is determined by the Governing Council of the European Central Bank (ECB). The council meets twice a month to review economic developments and makes key monetary policy decisions every six weeks, which are then communicated in detailed press conferences led by the ECB President and Vice-President. Separate meetings address other tasks, such as the ECB's supervisory responsibilities.
The most important changes with Euro Adoption:
- Monetary Policy Integration: post-accession, Bulgaria will operate under the ECB’s monetary framework, enabling access to tools like the European Stability Mechanism (ESM).
- Reserve Requirements: Bulgarian banks’ minimum reserve requirements will drop from 12% to 1%, reducing reserve obligations by an estimated BGN 15 billion.
- ECB Contributions: Bulgaria's contribution to the ECB’s capital, currently at 3.75% of its share, will increase to 100% upon euro adoption.
BNB is leading efforts to educate the public on Bulgaria’s eurozone accession, tackling misconceptions and clarifying financial implications. Topics such as the ECB's approach to managing the euro exchange rate, government deposits, and financial risk-sharing mechanisms like the Fiscal Compact were outlined to provide transparency.
The BNB’s informational campaign underscores its commitment to a smooth and informed transition to the eurozone, as Bulgaria prepares for one of its most significant economic milestones. The QA list can be found on this link: https://www.bnb.bg/AboutUs/PressOffice/POAccessionToTheEuroArea/POAEFIQuestionsAndAnswers/index.htm
Other news from Bulgaria
Bulgaria Adopts the Euro on 1 January 2026: What Citizens and Businesses Need to Know
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
Bulgaria will adopt the euro on 1 January 2026, with a one-month dual-circulation period and automatic conversion of all prices, accounts, assets, and liabilities at the fixed rate of €1 = 1.95583 BGN. To protect consumers, dual price display will remain mandatory until 8 August 2026, cash levs can be exchanged free of charge through banks, post offices, or permanently at the Bulgarian National Ba... Read more
Bulgaria's Euro Switch: exchange boards change format, and ATMs update rules.
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
Bulgaria’s move to the euro on January 1, 2026 will introduce Eurozone-style exchange boards and a short, early-morning ATM and card-payment pause during the currency switchover. From January onwards, ATMs will dispense euros, businesses will still accept leva for a month, and all bank accounts and cash will convert automatically at the fixed rate. As Bulgaria prepares to officially adopt the euro... Read more
New document was uploaded: S4FiscalBackoffice Patch
Author: Dejan Šijačić
S4F backoffice patch is intended for users who have already installed S4F backoffice and are intended to update existing installations to latest version. To do so apply only patches that are marked with version number that is newer than your currently installed instance of backoffice. Please make sure to install all available patches sequentially (without skipping). This package contains instruction, release notes, changelog and software packages required for deployment of this software component. Read more
Subscribe to get access to the latest news, documents, webinars and educations.
Already subscriber? Login
New document was uploaded: S4F backoffice installer
Author: Dejan Šijačić
S4F backoffice installer is intended for users who are installing the software for the first time. Please make sure to obtain latest version of installer and to apply all subsequent patches that are released subsequently. This package contains instruction, release notes, changelog and software packages required for deployment of this software component. This version of the Backoffice installer supports the following countries: Austria, Bulgaria, Croatia, France, Italy, Poland, Portugal, Romania, Slovakia and Slovenia. Read more
Subscribe to get access to the latest news, documents, webinars and educations.
Already subscriber? Login
New document was uploaded: S4FiscalBackoffice Patch
Author: Dejan Šijačić
S4F backoffice patch is intended for users who have already installed S4F backoffice and are intended to update existing installations to latest version. To do so apply only patches that are marked with version number that is newer than your currently installed instance of backoffice. Please make sure to install all available patches sequentially (without skipping). This package contains instruction, release notes, changelog and software packages required for deployment of this software component. Read more
Subscribe to get access to the latest news, documents, webinars and educations.
Already subscriber? Login
Bulgaria Includes SUPTO POS Software in the 2026 State Budget Law
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
Bulgaria’s 2026 Draft State Budget Law proposes amendments to the VAT Act that would make SUPTO-certified POS software mandatory for electronic sales reporting, reversing the earlier optional status. The bill also introduces strict new tracking obligations for over 600 “high fiscal risk” goods, requiring trucks transporting these items to use GPS devices for real-time monitoring. The Ministry of F... Read more
New document was uploaded: S4FiscalBackoffice Patch
Author: Dejan Šijačić
S4F backoffice patch is intended for users who have already installed S4F backoffice and are intended to update existing installations to latest version. To do so apply only patches that are marked with version number that is newer than your currently installed instance of backoffice. Please make sure to install all available patches sequentially (without skipping). This package contains instruction, release notes, changelog and software packages required for deployment of this software component. Read more
Subscribe to get access to the latest news, documents, webinars and educations.
Already subscriber? Login