Bulgaria has de facto completed the transition period to the euro, with 87% of the leva already withdrawn from circulation, and the monetary system is fully secured with euro banknotes. This was announced by the Chairman of the State Commission on Commodity Exchanges and Markets and Head of the Coordination Center for the Euro Mechanism Vladimir Ivanov during a briefing at the Council of Ministers, quoted by news.bg.
According to him, about 3.9 billion leva remain in circulation in banknotes and coins, some of which will traditionally not be returned, which is a normal process in currency exchange. "Money circulation is fully secured, there is no tension and no problems are observed in currency exchange", Ivanov emphasized.
Ivanov assured that all citizens have a guaranteed opportunity to exchange their leva without restrictions. The Bulgarian National Bank will carry out exchange indefinitely, and commercial banks and "Bulgarian Posts" will continue this service until mid-year.
Only for the period from January 5 to the end of February "Bulgarian Posts" have carried out over 161 thousand exchange operations worth a total of 203.6 million leva. In the last days of February, over 13 thousand more operations worth nearly 15 million leva were carried out. According to Ivanov, the tension in the exchange has significantly decreased.
The institutions continue their active control over the market. The Consumer Protection Commission has carried out 201 inspections in commercial establishments, where 15 violations were found. Acts have been drawn up and penal decrees have been issued for incorrect price marking, lack of double marking and other violations of the rules for the introduction of the euro.
The National Revenue Agency has also carried out over 10 thousand inspections, where 580 violations were found and sanctions worth over 450 thousand euros were issued.
Thousands of food products have also been checked as part of the control activities, with 206 of them found to have unjustified price increases. The price increase most often affected fruits, vegetables, dairy products and sausages.
The Ministry of Interior has registered 163 cases of attempts to distribute counterfeit euro banknotes since the beginning of the year. For the period 19-27 February alone, 20 new cases were identified, and a total of 23 banknotes with different denominations - from 5 to 200 euros - were seized.
Pre-trial proceedings, inspections and files have been initiated, with the authorities emphasizing that they are taking all measures to guarantee economic security and public order.
According to data from the Commission on Commodity Exchanges and Markets, the consumer basket has remained stable at a level of around 57 euros over the past ten days. On an annual basis, the increase is 4 euros, with the main growth due to the increase in the price of fruits and vegetables.
The most serious increase since the beginning of the year was recorded for red and green peppers and zucchini, which have increased in price by over 100% in absolute terms, as well as for lemons. At the same time, basic products such as sugar, rice, flour and pork have recorded a decrease or stability.
"The market is stable and functions normally. The transition to the euro went smoothly, without stress and without significant shocks", said Vladimir Ivanov.
The Coordination Center includes representatives of key institutions, including the Ministry of Interior, the Ministry of Finance, the Ministry of Transport, the Bulgarian National Bank, the National Revenue Agency, the Customs Agency, the Consumer Protection Commission, the Bulgarian Academy of Sciences and the banking sector.
The supervisory authorities will continue joint inspections to prevent speculation, protect consumers and ensure market stability after the introduction of the euro.
Ivanov emphasized that the currency exchange process went "in a smooth and well-organized manner", and the institutions will continue to inform the public regularly about the development of the situation.