20.10.2023

At its meeting, the Coordination Council for the Preparation of the Republic of Bulgaria for Euro Area Membership adopted the updated Communication Strategy for Information and Publicity of Bulgaria’s Accession to the Euro Area. The new texts envisage that at its launch the campaign will inform citizens about the benefits and effects of euro area membership. It also sets the objective of taking measures to counter any misinformation that misleads and instils unjustified concerns among citizens about this crucial step in raising the standard of living in Bulgaria.  The update plans the phases of the campaign by taking into account the changed time frame for Bulgaria’s membership for 1 January 2025, adds a number of new communication activities and modifies some of those envisaged in the previous strategy.

The document envisages conducting a large-scale communication and information campaign that will inform the citizens about the benefits of the introduction of the single European currency as the official means of payment in Bulgaria, the medium and long-term effects for the country and all practical aspects that are important for the process by providing accurate, accessible and timely information.

It envisages that the campaign will take place in three main phases - preparatory, actual and factual, with the second phase being the most intensive one.

The first phase will focus on providing information on the benefits and opportunities for Bulgaria of joining the euro area and on the country’s readiness to meet the Maastricht criteria. As early as this stage the aim will be to answer the questions that are important for the people and to prevent the spread of speculations and false statements on the subject.

The second phase will focus mainly on the practical information about the adoption of the single European currency. It aims to inform stakeholders about the overall process and their commitments, as well as how the adoption of the euro will affect all aspects of people’s lives. It will explain how the conversion of loans and deposits will be carried out, the administrative steps to be taken by legal entities, the changes in accounting, the security features of euro coins and banknotes, how the dual labelling of prices in retail outlets will be carried out, where and how to report irregularities.

The third phase will be very important for the consolidation of the new currency after its official adoption, as well as for increasing citizens’ confidence in the institutions. It will focus both on reminding citizens of key practical information and on making them familiar with the measures the state will be taking to protect consumer rights.

The communication campaign is planned to involve many Bulgarian institutions: in addition to the leading ones, i.e. the Council of Ministers, the Ministry of Finance and the Bulgarian National Bank, other ministries, the Consumer Protection Commission, municipalities, Bulgarian Posts, etc. will also participate actively in the campaign.