Cash in Bulgaria exceeds BGN 30 billion. The Association of Banks in Bulgaria is urging citizens to deposit their cash before the introduction of the euro, explained James Jolovski, Secretary General of ABB, in an interview with the Bulgarian National Radio.
Positive assessments by the European Central Bank and the European Commission on the country's readiness to join the eurozone are expected in June. The final political decision is expected in July.
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''People don't need to worry. In fact, the trend suggests that there might be a slight decrease in interest rates after joining the euro area. Joining the eurozone cannot lead to an increase in the prices of banking services. Once the money is deposited into an account, an automatic and free conversion from BGN to EUR can be done'', explained Associate Professor Jolovski.
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