site.btaSanctions Begin for Unjustified Price Increases, Government Says

The Government’s press service reported here on Wednesday that sanctions are now being imposed for unjustified price increases. The adaptation period, during which institutions issued only warnings, has ended, and effective inspections are now underway, it transpired from a meeting of the Euro Mechanism convened by Prime Minister Rosen Zhelyazkov.

The inspections focus on essential goods, requiring full disclosure of the reasons behind any price increases. More than 250 retailers across the country are being monitored. So far, 65 cases of unjustified price hikes have been identified, and the sanctioning process is already underway. Prime Minister Zhelyazkov emphasized compliance with the provisions of the legislation concerning the euro's introduction and ordered inspections to be further enhanced, the Government press service added.

Within the framework of the Euro Mechanism, the National Revenue Agency (NRA) will report on imposed sanctions once all data have been compiled. The Commission for Consumer Protection (CCP) is also monitoring price movements and processing information provided by retailers for the platform Kolkostruva.bg, which monitors the price of goods and products. 

At Wednesday's meeting, the progress of the euro adoption awareness campaign was also reported, the Cabinet added. More than 420 conferences and awareness events have been held with local authorities, citizens, businesses, and vulnerable groups across the country, in both regional centers and smaller towns. Many ministries have organized or participated in thematic conferences and events on the effects of euro adoption for their respective stakeholders, with nearly 90 such events conducted.

A positive trend in public attitudes toward adopting the single European currency has been noted, reflecting the Government’s comprehensive approach. As awareness increases, the share of Bulgarian citizens fully supporting the introduction of the euro is rising—a clear signal of public direction and sentiment, the Council of Ministers added.

Since October 9, the State has been fining retailers for violations of the Euro Introduction Act. Sanctions are imposed for unjustified price increases, incorrect currency conversion, and the absence of dual price labeling. For a first violation, fines reach up to BGN 7,000 and up to BGN 14,000 for repeat offenses.