Bulgaria’s Transition to Euro Expected to Be Smooth, Says Financial Expert

Sofia, The Gulf Observer: Bulgaria’s transition to the euro is expected to proceed smoothly without causing significant changes in the prices of goods and services, according to Dimitar Georgiev, a financial expert and international market analyst, speaking to Bulgarian National Radio.

Georgiev emphasized that in Bulgaria’s market economy, prices are determined by supply and demand rather than government control. He noted that any perceived increases in prices are largely influenced by global economic trends rather than the currency transition itself. Concerns over inflation, he added, are often amplified by political groups or media outlets focusing narrowly on price movements.

Describing the adoption of the euro as a positive and primarily technical step, Georgiev pointed out that Bulgaria has maintained a fixed exchange rate for the past 28 years, effectively aligning its monetary policy with eurozone standards. He stated that prices, relative to personal incomes, remain favorable and that the shift should not trigger uncontrolled inflation. For consumers, Georgiev advised focusing on income stability rather than short-term price fluctuations.

Looking to the future, Georgiev also addressed the expected introduction of the digital euro around 2028 or 2029. Unlike cryptocurrencies, the digital euro will be a fully regulated electronic payment method issued by the European Central Bank. It is designed to replace cash and offer a convenient, fee-free alternative to current card payment systems, which are dominated by American companies. Georgiev believes this development will strengthen Europe’s financial autonomy and make transactions simpler for citizens.