Cost of Euro Adoption in Bulgaria Estimated at Over Half a Billion Levs
The Ministry of Finance in Bulgaria has revealed that the process to facilitate the exchange of levs with euros in the country will come with a hefty price tag, estimated to be at least BGN 500 million. This disclosure accompanies the draft Law on the introduction of the euro, which was published by the Ministry on Tuesday.
According to the report accompanying the draft law, the conversion process entails substantial one-time costs, including the withdrawal of leva banknotes and coins from circulation and the distribution of the euro by various financial entities....