Bulgaria's transition to the euro has proceeded without major disruption or sharp price shocks, according to the National Revenue Agency (NRA) and the Consumer Protection Commission (CPCoo), which presented the results of their joint work under the Euro Introduction Act and interim figures from the current summer inspection campaign.
The two institutions said their overall assessment, also supported by the European Central Bank and the European Commission, is that the switch to the single European currency has been smooth. Inflation attributed to the euro changeover was estimated at between 0.3% and 0.4%, which authorities described as within the normal range seen in countries adopting the currency.
“The transition to the introduction of the euro has been smooth, without shocks and without shock prices. The general assessment is that inflation during the introduction of the euro is 0.3-0.4%, which is within the normal range for all countries that have introduced the euro,” said Hristo Markov, deputy executive director of the NRA.
The authorities said consumer protection measures have included an unprecedented number of inspections covering major sectors, including food and fuel retailers, pharmacies, restaurants and online commerce.
