Today, the government adopted amendments to the Law on the Introduction of the Euro in Bulgaria and they have been published in the legal information system of the Council of Ministers, reports the Bulgarian National Radio.
Finance Minister Temenuzhka Petkova is to present them to the National Assembly.
A week ago, the cabinet announced that the law was being revised to clarify the period and rules for dual display of prices for goods and services, and to introduce measures against unjustified price increases.
One of the amendments will prohibit traders from increasing the prices of goods and services they offer during the period of dual display of prices, when this is not justified by objective economic factors.
Thus, prices should not increase in the months before the date of the introduction of the euro, as well as in the year after, unless this is done after an increase in the prices of raw materials and materials, an increase in the prices of electricity and natural gas. This will avoid the practice of unreasonably increasing prices in advance or immediately after the short period of dual circulation.
The Cabinet is motivated by the fact that in this way consumers will be protected from unexplained price increases for essential goods related to the introduction of the euro, which is particularly important for socially vulnerable groups and for preserving the purchasing power of households.
The Government also specifies that the period of dual indication of prices in leva and euro will start on August 8 this year and end on December 31, 2026.
In addition, with dual indication of prices in leva and euro, the obligation is introduced that the font type in which the price is written twice must be the same, including abbreviations. This will avoid confusion, especially for the elderly and vulnerable groups who could be misled as to the actual price of the good or service.
The exceptions to the obligation for double labelling are also specified in cases where this is technically impossible or unreasonably expensive. Double labelling is also impossible for: the price indicated on labels issued by an electronic scale for measuring mass; the price of the good or service displayed on vending machines, devices and self-service systems, including those without electricity; as well as the selling price that is permanently printed on personalized paper transport documents.
Higher sanctions are also proposed than those currently specified in the administrative penalty provisions of the Euro Adoption Act. The aim is for them to have a preventive nature and a deterrent effect against violations.