Bulgaria’s Path to the Eurozone Depends on Internal Reforms, Says MEP

Andrey Kovatchev, an MEP from the European People's Party (EPP), expressed concerns over Bulgaria's delays in implementing measures under the Recovery and Resilience Plan. Speaking to Bulgarian National Radio (BNR), Kovatchev stated that Bulgaria is losing valuable funding, with almost 50% already forfeited. He attributed this setback to the political instability in the country over recent years, describing the situation as "catastrophically late."

Kovatchev also addressed the ongoing uncertainty regarding Bulgaria's entry into the Schengen Area, particularly concerning land borders. While he remains hopeful that the country's basic freedoms will not be permanently restricted, he acknowledged the likelihood of temporary restrictions. He expressed cautious optimism but refrained from setting specific dates for any potential resolution, noting the country's history of changing forecasts over the past decade.

On the topic of Bulgaria’s adoption of the Euro, Kovatchev emphasized that the decision does not lie with Brussels, but with Bulgaria itself. He highlighted that the nation's financial management, including its ability to handle the deficit and external debt, would determine when the country could join the Eurozone. Kovatchev stressed that the responsibility for this lies with Bulgaria's political leadership.

In relation to international matters, Kovatchev also remarked on the EU's significant financial support to Ukraine, noting that the EU is currently providing more assistance to Ukraine than the United States. He linked this development to potential changes in US foreign policy under the leadership of President-elect Donald Trump.