The Budget Committee adopted on second reading the Law on Amendments and Supplements to the Law on the Introduction of the Euro.
"Everything we voted on today is supported by the business. A compromise was found with which, on the one hand, consumers would be protected, and on the other hand, business would be at peace".
This was reported by the Chairman of the Budget Committee Delyan Dobrev after the meeting, news.bg indicated.
He pointed out that the control will be extended instead of until December 31, 2026. will continue until August 8, 2026, and some of the sanctions have also been reduced, Dobrev said.
"Guarantees were given to the business that it will not be checked and harassed", the MP was categorical.
The changes are related to the need for additional clarifications in the current law regarding the period and rules of dual indication of prices of goods and services - January 1, 2025. - 31 January 2026, the awareness of citizens during the dual circulation period, measures to prevent unjustified price increases in connection with the changeover to the euro, as well as the related powers of the control authorities and the effectiveness of administrative penalty provisions.
With regard to the rules on dual labelling, it should be noted that at present some traders are already starting to display prices twice, although the requirement has not formally entered into force, which allows for signals to be received from consumers, as well as questions from traders about the exact length of the period, as well as the method of displaying prices.
These signals show that there are ambiguities, incl. in relation to the deadlines, the type and colour of the price font, as well as the font size of the relevant currency, distinctive sign or abbreviation.
As a result of such ambiguities, consumers, especially vulnerable groups such as the elderly, could be misled as to the actual price of the good or service. This leads to undermining public confidence in the entire process of introducing the euro as the official currency, which is why it is imperative to take adequate and timely action to eliminate this problem.
In addition, there is a list of exceptions to the obligation for dual labelling, which is not exhaustive and this leads to difficulties in applying the rules and to their de facto inapplicability in certain cases. It is impossible to label fuel additives displayed on information signs (price totems) and display columns (gas pumps), etc., twice.
Double labeling is also impossible in the following cases:
Secondly, a need was identified to supplement the Euro Introduction Act with regard to the rules that traders must comply with during the dual circulation period. The trader, upon receiving a cash payment in levs or in euros or upon a complaint about a good or service, shall return the remainder of the amount paid entirely in euros.
The existing provision creates the prerequisites for citizens not having the necessary information regarding the lev equivalent of the remainder/paid amount.
This may lead to limited awareness among consumers, which in turn increases the risk of unscrupulous practices by traders. As a result, it creates an opportunity to circumvent the established transparency requirements and undermines the principle of consumer protection.
With regard to unjustified price increases, the law prohibits it, but this prohibition covers only the period of dual circulation (one month), not the longer period of dual price indication. Consumers should not be placed in a financially less favourable position as a result of the adoption of the euro than they would have been without it. This principle requires traders to set prices in good faith and transparently, solely on the basis of real economic circumstances, and not because of the introduction of the euro itself.
The available evidence clearly shows that limiting the prohibition by law to the one-month period of dual circulation will not be sufficient to provide real consumer protection. Even before the official introduction of the euro, price speculation began, and there is a risk of such after the first month.
That is why it is necessary to extend the period in which the ban on unjustified price increases is in effect, so that it covers the entire period of indicating prices in two currencies.
Additional powers are provided for the NRA and the CPC to access information related to pricing, and an obligation is introduced for traders engaged in retail trade in food products, alcoholic and non-alcoholic beverages, tobacco products, non-food products and pharmaceutical products, with a turnover for the previous year of over BGN 10,000,000 to publish weekly data on the prices of the goods they offer.
Given that the current Law on the Introduction of the Euro in Bulgaria does not provide for a mechanism to ensure easy and effective access of control authorities to information related to pricing, necessary for inspections during the transition to the euro, a need has been identified to include provisions that would further guarantee price transparency and easier access to price information. This will prevent the risk of misleading consumers and unjustified price increases.
Some sanctions set out in the administrative-penalty provisions of the law are not sufficiently severe to have a preventive nature against violations, which is why higher sanctions are envisaged to serve as a deterrent and ensure more effective implementation of the provisions of the law, especially in the context of the transition to the euro.