There is not much time left for the Bulgarian lev! The goal of Bulgaria is to implement the euro, the European single currency, in January. Reform initiatives are yielding results. Nevertheless, despite the fact that the euro is among the most stable currencies in the world, many Bulgarians are terrified of inflation. According to 66%, Bulgaria is not yet prepared. Anti-euro protests are organized by Russian sympathizers and ultra-nationalists in Bulgaria. The society is split. On the contrary, all EU institutions attest that Bulgaria is prepared and has done its homework.
Are there any additional benefits or drawbacks to adopting the euro? The Bulgarian winegrowers’ first destination. For thousands of years, wine has been grown in the area. Ivailo Antonov is the winery’s managing director in the Bessa Valley. His grapes are flourishing even if it’s 40 degrees outside: “We sow Syrah. We anticipate a very successful harvest this year.
Eighty percent of the company’s 720,000 bottles of wine are exported each year. It takes money to juggle currencies: “We sell abroad and are paid in euros,” Antonov explains. However, we pay in levs when we purchase materials in Bulgaria. To transfer funds from euros to levies and vice versa, we incur a substantial bank fee.
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