site.btaDebit Card Replacement, ATM Withdrawal Fees Abroad, and Merchant Obligations In Focus of Euro Information Campaign in Lovech, Tervel, Kula, Krichim, Galabovo, and Breznik

Information meetings, part of the national information campaign for the introduction of the euro in Bulgaria were held on Monday in Lovech, Tervel, Kula, Krichim, Galabovo, and Breznik.

Experts explained the main stages and timeline for adopting the euro, the rules for dual price labeling, as well as issues related to tax and social security statements, bank accounts, and interest rates.

Questions such as whether debit cards will need to be replaced and what ATM withdrawal fees will be abroad were raised during the euro-related meeting in Lovech.

“Membership in the Eurozone is an opportunity and a prerequisite for faster economic growth and deeper integration into the core of the Eurozone countries. These are the richest countries in the European Union, as well as some of the most developed in the world,” said Deputy Finance Minister Metodi Metodiev during the meeting.

According to him, the budgetary process will comply with the strict fiscal rules that apply to all Eurozone member states.

“For tourism, the introduction of the euro equals growth,” said Deputy Tourism Minister Pavlin Petrov. In his words, the tourism sector is among the first to encounter every new development in Bulgaria.

During the meeting, Deputy Economy Minister Doncho Barbalov said that the adoption of the euro has been a national priority for over 20 years, and is now close to being accomplished.

At the meeting in Tervel, experts reminded citizens that merchants have until October 8 to display their prices in both euro and leva.

Experts from the Consumer Protection Commission (CPC) and the National Revenue Agency (NRA) explained the key aspects of the euro introduction process to residents of Galabovo.

Speakers at the meeting in Breznik included Elena Gyurova, Chief Inspector at the CPC, and Gabriela Tomova, Director of the NRA office in Pernik. Gyurova noted that the Bulgarian National Bank will exchange leva for euros for an unlimited period of time. Commercial banks and Bulgarian Posts will also provide this service in areas without banking institutions, but only for six months after the introduction of the single European currency. After that period, these institutions may introduce fees for the exchange.

Key aspects of the euro introduction process were also explained at an information meeting in Krichim.

“Older people are the most vulnerable, and our efforts are focused on protecting them,” said Irena Ilieva, Director of the NRA office in Vidin, during the euro information meeting in Kula. Residents at the meeting expressed concern that having only one bank branch in the town will be problematic and will force them to travel to Vidin.