site.btaOver 58% of Lev Money Supply Withdrawn from Circulation, Says Euro Adoption Coordination Centre Chair
More than 58% of the lev money supply in circulation has already been withdrawn, Vladimir Ivanov, Chair of the Coordination Centre on Euro Adoption, said at a news briefing in Sofia. For comparison, a week earlier the share of withdrawn levs stood at 48%, with the pace comparable to that in other countries that have joined the euro area.
“The process of introducing the euro in Bulgaria is proceeding smoothly and in a coordinated manner, with the problems observed during the first week gradually disappearing,” Ivanov said. According to him, no reports of difficulties with currency exchange at commercial banks have been received over the past week.
Regarding the activities of Bulgarian Posts, Ivanov said that between January 12 and 16 a total of 20,900 transactions were carried out, amounting to nearly BGN 34 million.
As for control activities, he said that the Commission for Consumer Protection carried out 164 inspections under the Euro Adoption Act between January 12 and 18, resulting in 34 administrative offence proceedings and the issuance of five penalty decrees.
The National Revenue Agency conducted 2,774 inspections between January 5 and 18, identifying 25 violations of the Euro Adoption Act.
NRA Executive Director Hristo Markov added that the National Revenue Agency has issued 48 penalty decrees, totalling EUR 125,549.
/DS/
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