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New law on the Bulgarian National Bank adopted in first reading

published on 1/19/24 6:42 PM

Photo: BGNES

The National Assembly has adopted in first reading the new law on the Bulgarian National Bank (BNB), which will enable Bulgaria to join the euro area. The purpose of the law is to ensure the legal integration of the Bulgarian National Bank into the Eurosystem upon the adoption of the euro as the national currency.

The amendments regulate the status of the euro as a currency, the design of the national side of euro coins, the introduction and withdrawal, replacement and exchange of euro banknotes and coins. The BNB Act should replace the current law when Bulgaria joins the euro area. The law is also expected to be adopted in second reading.

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