site.btaParliament Approves on First Reading Revisions Preventing Unjustified Price Hikes Ahead of Euro Adoption

Parliament passed amendments to the Introduction of the Euro in the Republic of Bulgaria Act at first reading on Wednesday. The bill was approved with 116 votes in favour, 75 against, and three abstentions. The proposed legislative changes stipulate that retailers in Bulgaria may not raise the prices of goods or services, unless there are objective economic factors to do so, until the end of the next financial year 2026.

The bill was submitted by the Council of Ministers on Monday and received the greenlight on Tuesday from the parliamentary Budget and Finance Committee.

The amendments were supported by GERB-UDF, the Movement for Rights and Freedoms – New Beginning, the BSP – United Left, There Is Such a People, and one independent MP. Those voting against were from Continue the Change – Democratic Bulgaria, Vazrazhdane, MECh, and Velichie. MPs from the Alliance for Rights and Freedoms abstained. 

The amendments stipulate that dual-currency tagging of goods and services in BGN and EUR will become compulsory on August 8, 2025, and should be applied until December 31, 2026. It sets rules requiring that prices be shown in the same size, font, and colour.

Additional exceptions to the dual tagging requirement are introduced. For taxi services, the dual price display is set to begin on October 31, 2025.

The bill prohibits retailers from increasing prices without justification based on objective economic factors until the end of 2026. Violations will carry financial penalties calculated as a percentage of the company's turnover from the previous financial year.

In case legal entities and sole traders allow speculative price increases, they face a penalty of 0.5% of the turnover for the previous financial year. In case of repeated violation, they face a penalty of 1% of the turnover for the previous financial year, the bill says.

The National Revenue Agency and the Consumer Protection Commission will receive expanded powers to access pricing-related information. Retailers with an annual turnover of over BGN 10 million will be required to publish weekly price data for food, beverages, tobacco, non-food goods, and medicines.

The Council of Ministers will also be able to impose temporary anti-price-hike measures if prices rise excessively.

Opposition MPs criticized the bill for giving excessive powers to regulators, which they said could lead to pressure on businesses. The ruling majority argued that the law ensures euro introduction cannot be used as a pretext for unjustified price hikes, and that specific penalties are clearly outlined.