Within seven days, the Government will propose changes to the Euro Introduction Act, which provide for additional measures against unjustified price increases, increased sanctions and increased control powers of the Consumer Protection Commission. This became clear during the meeting of the Mechanism for Coordination of Monitoring and Control in Relation to the Introduction of the Euro in the Republic of Bulgaria convened by Prime Minister Rosen Zhelyazyk.
During the meeting, the Minister of Finance Temenuzhka Petkova presented the changes that the Cabinet is preparing based on the analyses and results of inspections by the National Revenue Agency and the Consumer Protection Commission, carried out since the beginning of June. First of all, Petkova highlighted the counteraction against attempts by some traders to unjustifiably increase the prices of the goods and services they offer. The Finance Minister pointed out that at present the law provides for a sanction only during the period of dual circulation – from January 1 to January 31, 2026. “It is in the interest of consumers to extend this period, which will start from the period of dual price indication and end by December 31, 2026,” Petkova said.
Another change in the law that the government is proposing concerns the labeling of goods. Inspections to date have shown that there are attempts by some traders to incorrectly label the price in both euros and leva, misleading consumers. “Very clear criteria and rules should be introduced regarding what font the prices in leva and euro should have respectively after August 8 this year, what color they should be, so that consumers are not misled“, the Minister of Finance emphasized.
Increasing the amount of sanctions provided for in the Euro Introduction Act is also among the measures that the cabinet will propose. “The sanctions should be increased, as in this way they will also have a preventive nature with regard to unscrupulous traders who intend to unreasonably increase prices“, Minister Petkova stated.
The supervisory powers of the Consumer Protection Commission will also be expanded. “During the period in which the Euro Adoption Act will be in effect, additional powers must be given to the Consumer Protection Commission, which will be able to react and carry out control actions regarding attempts to unjustifiably increase the prices of goods and services“, Petkova pointed out. The Minister of Finance pointed out that it is consumer protection that is the focus of the changes proposed by the government.