Bulgarian National Bank (BNB) Governor Dimitar Radev downplayed concerns that adopting the euro would lead to a meaningful or lasting rise in inflation. He emphasized that any price increases would be minor and temporary, noting that Bulgarian and eurozone interest rates were already near neutral levels. Annual inflation hit 4% in March, driven by adjustments…
Rumen Draganov from the Institute for Evaluation and Analysis in Tourism spoke to Bulgarian National Radio about the transition to the euro in Bulgaria, particularly regarding the tourism sector. According to him, tourism in Bulgaria has effectively been operating with the euro for years, and there is no psychological obstacle to the change. “In euros,…
Bulgaria now proudly counts a second unicorn company – Shelly Group, formerly known as Allterco, has reached a market valuation exceeding billion. Following in the footsteps of Payhawk, the company behind smart home and energy automation products officially crossed the milestone, as confirmed by founder and CEO Dimitar Dimitrov. Traded on both the Sofia and…
Bulgaria’s economy posted a 3.1% YoY growth in gross domestic product (GDP) in the first quarter of 2025, and a 0.6% increase compared to the final quarter of 2024, according to seasonally adjusted preliminary data released by the National Statistical Institute (NSI). In absolute terms, the GDP in the January-March period stood at 45.6 billion…
Small businesses in Bulgaria are far from ready to fully embrace the euro, even though some major retail chains began showing prices in both lev and euro earlier this month. According to industry representatives, retailers will need at least half a year to adjust to the new currency rules, while restaurateurs are bracing for higher…
The government will act firmly against any attempt to unjustifiably raise prices in the context of Bulgaria’s upcoming adoption of the euro, Finance Minister Temenuzhka Petkova has stated during her first public appearance since the European Commission and European Central Bank issued positive reports on the country’s progress toward eurozone membership. Speaking at the 2025…
From August 8, all retail outlets in Bulgaria are expected to display prices in both leva and euro, according to Nikolay Valkanov, executive director of the Association for Modern Trade. The move comes in anticipation of the country’s expected admission into the eurozone, with the final decision and date for entry projected to be announced…