VP of the European Commission: The Delay for the Eurozone should not Discourage Bulgaria

Finance | February 23, 2023, Thursday // 17:17|  views

Vice-President of the European Commission Valdis Dombrovskis (left) and Acting Prime Minister of Bulgaria Galab Donev (right)

The Vice-President of the European Commission, Valdis Dombrovskis, is visiting Bulgaria today. He met with Prime Minister Galab Donev.

Prime Minister Donev said that they focused the conversation around inflation problems. “The caretaker government since October has managed to have a fall in the inflation index in order to achieve price stability so that we can approach the Maastricht inflation criterion. We also discussed the legislation that must be adopted in order for Bulgaria's legal framework to be responsible for membership in the Eurozone.”

In turn, Valdis Dobrovskis said that several important topics were discussed for the adoption of the euro, for strengthening the economy and, above all, the work of Bulgaria to join the Eurozone. “The EC will continue to support the work of the Bulgarian authorities so that Bulgaria can enter the Eurozone. Unfortunately, due to high inflation, the country cannot meet the original date, there will be a delay, I hope that Bulgaria will be able to enter the Eurozone from January 1, 2025. The commitments after the Eurozone waiting room must be fulfilled. This delay should not discourage Bulgaria,” urged Valdis Dombrovskis.

He added that it is very important to fulfill the Maastricht criteria. He gave the example of Lithuania, where in 2007 they failed to meet the inflation requirement by 0.2%, and subsequently, the Baltic state adopted the euro in 2015.

Earlier today, he also spoke with President Rumen Radev.

On Friday, the EC vice-president will participate in a conference on "Bulgaria on the road to the euro". During the forum, which is organized by the Ministry of Finance, the opportunities and challenges for our country to be a member of the Eurozone will be discussed.

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Tags: Donev, Bulgaria, Eurozone, Dombrovskis


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