Transition to Euro: Vasilev Advises Companies to Begin Preparations for Next Year

Finance Minister Asen Vasilev has issued a recommendation for Bulgarian companies to expedite their preparations for the transition to the euro next year as reported by BNR. Speaking at a conference focused on the benefits and challenges of adopting the single European currency, Minister Vasilev highlighted Bulgaria's expected fulfillment of the inflation criterion this year, marking the final step toward meeting the Maastricht criteria.

Addressing attendees, Minister Vasilev emphasized the importance of proactive readiness, stating: "If there are companies or sectors here that have not started preparations, I strongly advise them to hurry up! We are working very actively with all sectors - both the banking and non-banking sectors".

Dimitar Radev, Governor of the Bulgarian National Bank (BNB), affirmed that the banking system's preparation for euro adoption is well underway. Governor Radev stressed the necessity of maintaining good fiscal discipline in the lead-up to the transition.

"After joining, the Eurozone will gain another voice of common sense in terms of solving the fiscal issues that both the Eurozone and the European Union as a whole are facing. And this is something that I think our Union badly needs", he added.

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