The eurozone will release over BGN 1 billion in resources for business annually

Bulgaria's entry into the eurozone is expected to release resources worth over BGN 1 billion annually. These funds can be directed towards key areas such as investment, innovation and job creation. This is the forecast of the Association of Industrial Capital in Bulgaria (AICB).

Joining the eurozone will boost competitiveness and provide access to more favorable financing. Bulgarian businesses will save significant currency conversion costs, reduce the risk of international transactions, have access to cheaper financing, and operate in a more transparent and predictable economic environment," commented AICB Chairman Rumen Radev.

He participated in the first of a series of information meetings organized as part of the National Information Campaign for the Introduction of the Euro.

According to him, joining the eurozone will have a transformative effect on the Bulgarian economy. One of the main advantages is the improvement of the competitiveness of local businesses, which will gain access to more favorable financing.

Advantages for business and the economy

Joining the eurozone will provide a number of specific advantages for Bulgarian companies:

• Cost savings: Businesses will eliminate the significant costs of currency conversion in international transactions;
• Risk reduction: The elimination of currency risk will provide greater security and predictability in commercial transactions with eurozone partners;
• Cheaper financing: Membership in the single currency area will facilitate access to lower-interest loans, which is essential for investment projects;
• Transparent and predictable environment: A single currency will create a more stable and predictable economic environment, which is conducive to long-term planning and growth.

Translated with DeepL.