The Association of Bulgarian Insurers (ABZ) is among the organizations that, on 9 June 2025, signed a Memorandum of Cooperation with the Bulgarian government aimed at protecting consumers during the country’s transition to the euro. The government initiative has received the support of employer organizations, trade unions, industry associations, and professional bodies. Its goal is to ensure a clear, well-informed, and fair transition to the new currency, with a strong emphasis on safeguarding citizens’ interests and preventing unjustified price increases.
ABZ fully supports the key objectives of the memorandum – the effective and smooth introduction of the euro, the protection of consumer rights, and the strengthening of trust in business.
Nina Kolchakova, Secretary General of ABZ, emphasized at the signing ceremony that the insurance sector is fully prepared for Bulgaria’s entry into the euro area: “The industry is fully committed to ensuring a smooth and predictable transition to the new currency, while guaranteeing the protection of consumers’ rights and interests.”
Prime Minister Rossen Zhelyazkov highlighted the need for sustainable partnerships with business and trade unions to ensure that citizens are fully informed. With the signing of the memorandum, a contractual framework for cooperation is established, placing consumer protection at its core — as a matter of national interest and a guarantee of stability during the transition period.
The initiative brought together a wide range of representatives from the financial and real sectors, trade unions, and employer organizations. Alongside ABZ, the memorandum was signed by the Association of Banks in Bulgaria, the Alliance of the Technology Industry, the Bulgarian Association of Supplementary Pension Insurance Companies, the Bulgarian Association of Licensed Investment Intermediaries, the Bulgarian Association of Asset Management Companies, CITUB, Podkrepa Confederation of Labor, and the Association of the Organizations of Bulgarian Employers. Their participation reflects the strong engagement of key economic and social partners in ensuring a coordinated and transparent euro adoption process that protects citizens’ interests and supports economic stability.
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