Experts Argue Whether Prices Would Rise if Bulgaria Introduces the Euro

Bulgaria in EU | January 16, 2018, Tuesday // 11:16|  views

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After Bulgaria took over the presidency of the EU, it was again talked about the possibility of our country joining the Eurozone, Nova TV tells. The TV organizes a dispute about whether prices would rise in Bulgaria if our country adopts the euro as its currency?

"After the introduction of the euro, prices will not be raised. Generally, inflation in the introduction of the euro is between 0.3% and 1.4% in the different countries, and no one can tell whether this is a consequence of the introduction of the European currency, or is related, for example, to the rise in fuel prices, " said in the "Hello, Bulgaria" Lyubomir Datsov, former Deputy Minister of Finance. "German statistics show about 1% inflation," he said.

"In the Baltic states that last came into the eurozone, inflation was between 0.5% and 0.6%," he said.

"I do not agree that prices will not be raised. What costs BGN 99 cents will cost EUR 99 cents. There was a huge inflation in Germany. What cost 99 fenings turned to EUR 99 cents, that is, prices have doubled, "said Professor Bancho Banov, lecturer at Sofia University St. Kliment Ohridski.

"The inflation shock will take 5-6 years after the adoption of the euro, until the salaries of the Bulgarians adjust to the new prices," he says


Tags: Bulgaria, introduction, euro

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