We commissioned sociological surveys on attitudes towards our entry into the eurozone, with "Alpha Research" winning the public tender. Two surveys have been conducted so far. This was stated by Finance Minister Temenuzhka Petkova at a briefing.
"On June 4, the ECB and the EC issued convergent reports. We expect the Council to make a final decision on July 8. We all know what the effects of the eurozone are and how important a strategic goal it is. We will try to dispel people's concerns, because the situation is new, it is associated with uncertainty and therefore raises concerns," the minister also said.
Sociologist Boryana Dimitrova from "Alpha Research" presented the results of the two surveys conducted so far. The first was conducted between April 8-16, and the second between May 22-28. Both are very extensive, including three sections - attitudes, exchange practices and use of the euro, as well as level of awareness.
Attitudes
From the answers to the question "Should Bulgaria continue its integration into the EU or not?" both surveys show that entering the eurozone is perceived as a logical step after our accession to Schengen - 56% of people are "for", as are 64% of businesses. In three years, the approval has clearly expressed support, compared to a survey from 2022, when over 50% were not "for" entering the eurozone, Dimitrova summarized.
After President Radev's request for a referendum, both supporters and opponents of the eurozone have consolidated. Business has a clearly expressed and stable positive attitude - 66.3%. Regarding the expected effects - in the short term, about 35% of people have rather positive expectations, and 55% are negatively disposed. In business, the percentages are distributed in the following ratio: positive expectation - 57-53%, negative - 36-39%.
In the long term, the trend is reversed - 48% is the positive expectation among citizens, 39% - negative. In business, the positive attitude is 60%.
What are the most expected positive effects?
• Convenience when traveling and paying abroad - 61%
• There will be no losses from currency exchange - 44%
• Facilitated trade with other European countries - 34%
• Transaction costs will decrease and investment interest will increase
Short-term expected negative effects
• Increase in prices of goods - 65.5%
• Increase in inflation and artificial increase in prices by dishonest traders - 56%
Frank misconceptions
• Salaries and pensions will be halved, and prices will double
• The exchange rate will change
Business concerns - 43% believe that labor costs will increase
The social groups that support joining the eurozone to a greater extent are younger and middle-aged people. Fears are concentrated among lonely elderly people, as well as among citizens with disabilities. Middle-aged people with high school education, active users of social networks, express their fears most often. Citizens who pay most often in cash are most concerned.
Business is very positive, but microbusinesses are more concerned because of their more limited transaction options and lack of relationships with European partners and are worried about the purchasing power of their customers.
Using the euro
51% of those surveyed have used the single currency in the last year - for direct cash payments, bank transactions or online payments. 51.6% prefer to make transactions in euros. 44.7% have no concerns about using the single currency, 28% have some concerns but think they will cope, 23-24% say they have serious concerns about how they will find their way - people from small towns who work mainly with cash.
Where will they exchange money?
69% plan to do it through bank branches, with the BNB gaining the greatest trust. Exchange offices are more preferred compared to post offices.
67% of businesses have used the euro and have no concerns.
1/3 of those surveyed define themselves as very well informed about the euro. And 60% say they need serious additional information.
Business is largely defined as very well informed, but in a number of areas it believes that additional information is needed.
74% say they do not know until when it will be possible to exchange levs for euros. 7 out of 10 people do not know until when it will be possible to pay in both currencies. 69% do not know when and until when prices in stores will be announced in levs and euros. How will loans and leases be converted, what will be the interest rates, whether there will be exchange fees - these are among the most frequently asked questions.
59% of business representatives do not know what the tax returns will be after the introduction of the euro.
Among other questions they ask themselves are: What are the obligations of traders during the period of dual circulation? Should the capital of the company and the enterprise be recalculated? How will salaries be recalculated in euros? 26% of those surveyed wonder where they will get euro banknotes and coins.
The Minister of Finance summarized the data from the survey. "In the long term, the majority of society states that the benefits of Bulgaria's membership in the eurozone are very clear and categorical. There is a need for additional information in connection with the adoption of the euro. "The government is working purposefully to provide objective data to dispel all concerns and tell the truth about the benefits of the introduction of the euro, so that citizens do not succumb to manipulation and false information," said Temenuzhka Petkova.