The predictions that the introduction of the euro in Bulgaria would be catastrophic have not come true, we are off to a very good start!
This was stated to the Bulgarian National Radio by Vladimir Ivanov, chairman of the Euro Coordination Center, and he categorically emphasized:
"There is no idea of extending the period in which the lev will be used, in parallel with the euro. We are implementing the law, and it orders the period to be one month - until January 31. I see no reason for it to be extended, since the process is going very well. After only about 10 days, the money supply of levs will be very small. The system has done very well.... 46% of the money supply is already in the BNB. Things are going quite well. I would boldly say that we are doing better than Croatia.... Large commercial companies, not only food chains, everywhere suffered the most serious push at the beginning, as they helped the banking system in this process. Serious business in Bulgaria behaved very responsibly, thanks also to the activities of the banks, which is why we see these results".
He added that our country's place is in Europe and claims that the lev will return in a month are delusions and mythologemes:
"We did not buy a factory on September 8, entering the eurozone now, as some say. Economies like those of the countries in the eurozone do not easily collapse. The better position is to choose where there is more economic and financial strength than to be left alone in the stormy winds of the new geopolitical situation.
About 7% of the violations from the inspections carried out were reported, Ivanov announced and commented:
"The results of the inspections show that a very small part of people, companies, and various industries have not adopted the idea of the euro and have decided to violate the law".
There is no problem with prices for basic food products after the introduction of the euro, Vladimir Ivanov, who is also the chairman of the Commission on Commodity Exchanges and Markets, also pointed out.
"Prices are driven by market factors.... The consumer basket is the same as it was at the same time last year - 51 euros. These are data that show that we have a stable market, and a little inflation is inevitable, it can't help but happen".
I am not aware of any change in bank interest rates, said Ivanov, but he specified that this indicator is not monitored by the Coordination Center.