In Bulgarian society, there is a balance between optimistic and pessimistic attitudes toward the introduction of the euro in the country.
This is shown by two nationally representative surveys conducted by Alpha Research on behalf of the Ministry of Finance (MF). They were carried out between April 8 and 16 and May 22 and 28 this year among 1,200 citizens and 500 business representatives.
The results show that while in April 45% of those surveyed approved of joining the eurozone and 49% did not, in May approval jumped to 46.5% and disapproval to 46.8%.
A comparison with the results of a survey conducted in November 2022 shows a clear increase in positive expectations.
One thing is clear: in the long term, the majority of Bulgarians believe that the benefits of the euro are clear and unequivocal. This is an extremely important sign,“ commented Finance Minister Temenuzhka Petkova.
A step towards European integration
When asked, ”Should Bulgaria continue its integration with the European Union?“, respondents showed strong support.
56% of citizens support the process, and 64% of businesses do so. Negative attitudes stand at 29.6% and 27.4% respectively.
The eurozone is seen by people not as a separate event, but as a logical step in the process of European integration,” commented sociologist Boryana Dimitrova from the agency.
Lack of perspective
At the same time, Bulgarian citizens are not looking ahead, but are fixated on the short term.
Positive effects are expected, but there is also some concern among the people. The overall attitude toward the eurozone is confused with the short-term effects,“ Dimitrova said.
One-third of those surveyed expect entirely or mostly positive effects in the short term, while over 50 percent are pessimistic.
However, the trend reverses over a longer time horizon.
Forty-eight percent of citizens expect positive effects in the long term, while 39 percent expect negative effects. Among businesses, 60 percent have a positive outlook.
Dimitrova explained the results as being due to “economic concerns” and the influence of “certain manipulative statements and a lack of information.”
Main positives of the euro according to citizens:
- Convenience when travelling and paying abroad;
- No currency conversion fees;
- Easier trade.
Pros for businesses:
- Interest in investment;
- Reduced business costs;
- Greater competitiveness.
Main concerns
For citizens, the main concerns are related to price increases, the possibility of fraud and speculation, the possibility of exchange rate changes, and a double decline in wages and pensions, but a double increase in prices.
For businesses, the negatives include more expensive raw materials and labor.
Fears are concentrated among the elderly, especially the lonely elderly,“ Dimitrova said.
She added that this group usually pays in cash and will find it difficult to determine, when paying in leva, what change to expect in euros.
They should not only be informed, but also assisted in this process,“ said the sociologist.
Among businesses, micro-businesses are the most concerned due to their limited ability to hire staff and make transactions.
Lack of clarity… about everything
Dimitrova also presented worrying data on people’s awareness of the introduction of the euro.
It turns out that seven out of ten people do not know how long it will be possible to pay in both currencies, most do not know how their loans, leases, and interest will be converted, they do not know when the euro will be introduced in Bulgaria, what the exchange rate will be, or what the exchange fees will be.
Businesses do not know how to revalue their assets and liabilities, including profits, or how to recalculate salaries.
Information is not reaching all groups equally; there is a need for a more active dissemination of information throughout the country,“ Dimitrova said.
The finance minister countered that the government is working to provide additional information about the euro, with over 100 events planned across the country to meet with citizens, businesses, local authorities, and others.
No one should worry about their pension – it will not be cut in half, nor will prices double,“ Petkova summarized.
Translated with DeepL.
Източник: Economic.bg
