Daniel Lorer, Minister of Innovation and Growth, declared that steps are being taken for the adoption of the euro as of 1 January 2024, and to replace leva banknotes for euros. The conversion rate of BGN1.95583 = EUR1.00 remains. The plan is backed by the coalition of political parties in power, but still requires parliamentary approval.

Bulgaria presently does not meet the minimum level of inflation required by the European Union, but because that level has increased across the EU, the country will be able to meet it.

An anti-inflation package of over 1.5 billion is being prepared. It includes VAT and excise duties changes.

Source: Bulgaria News Agency

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