Today’s cabinet sitting approves Euro changeover plan for Bulgaria


Today’s cabinet sitting approved the Euro changeover plan for Bulgaria, as announced by Assen Vassilev, Deputy Prime Minister and Minister of Finance. Further he said that this is an operational plan with deadlines and assignments to banks and government institutions as to how to proceed with the introduction of the Euro, the changeover and the conversion of the loans and deposits so that on 1 January 2024 the country is equipped to shift over to the Euro.

To meet this objective, a number of changes in the legislation are forthcoming, including the Bulgarian National Bank Act. Discussions on the topic will continue in the National Assembly and broad public discussions will be organized in the course of the accession process.

Deputy Prime Minister Vassilev also commented for the media the establishment of a workgroup with the Ministry of Justice, Ministry of Finance, Ministry of Foreign Affairs, the State Agency for National Security (SANS) and other institutions in the lead. „When the first designations under the Global Magnitsky Act were announced, we had a gap in the legislation and made a commitment to fill it. When an individual is subjected to sanctions, the Bulgarian financial system and economy face a problem and this problem must be overcome,” Deputy Prime Minister Vassilev said.