We expect higher economic growth

The time has come to make maximum efforts to enter the Eurozone. This is the only possible way for Bulgaria. Thanks to the existence of a currency board, the use of the euro will not be a problem for Bulgarian citizens.

The only thing remaining is to continue with the active negotiations so that all those who have commitments in the preparation process can successfully fulfill their tasks so that the country will be able to cover all the necessary criteria for joining the Eurozone.

We expect the new parliament to adopt the Law on the Introduction of the Euro as a matter of priority. It is important to continue serious efforts regarding the information campaign for citizens. The Economic and Social Council is working hard on the subject and we think it is important to have a campaign on how the currency change will take place. We propose to envisage a longer period – of 18 months, during which there will be price displays in both currencies. Attention should be paid to small and medium-sized enterprises, to the elderly, to the socially disadvantaged, so that they can smoothly go through this process and all fears can be overcome. The Commission on the Protection of the Competition (CPC) and the Commission of Consumer Protection (KZP) have their responsibilities on the matter.

Experts increasingly point to Bulgaria’s joining the Eurozone in mid-2025, most likely, but that depends on budgetary performance and other indicators. We rely on the relevant part of the Bulgarian authorities to do their job. Entry into the Eurozone will serve as the stabilizing mechanism that will help us exit the currency board. We expect that adopting the euro will be related to economic growth, more investments, higher incomes and higher purchasing power of the people in Bulgaria.