Borissov Responds to Political Tensions Surrounding Bulgaria's Eurozone Plans

Boyko Borissov, leader of GERB, defended the government’s progress on Bulgaria’s path to the eurozone, in response to accusations from Democratic Bulgaria (DB) that the submission of the 2025 Budget to the National Assembly was delayed. Borissov emphasized that achieving the strategic goal of entering the eurozone requires significant preliminary work and preparation, pointing out that the process involves detailed coordination with the European Commission and other eurozone member states. He dismissed DB's claims, suggesting that their approach was overly simplistic and lacked a full understanding of the necessary groundwork.

The Finance Minister, Temenuzhka Petkova, echoed these sentiments, stating that there was no risk to Bulgaria’s eurozone entry. She addressed the delay in the submission of the 2025 Budget, clarifying that the delay was due to ongoing consultations with the European Commission regarding the country's fiscal plan for the period 2025-2028. Petkova reassured that the budget would be submitted shortly and reaffirmed Bulgaria's commitment to meeting the criteria for eurozone entry, particularly with regard to inflation data, which is expected from Eurostat by February 24. If Bulgaria meets the inflation criterion, Petkova said, the Finance Minister would promptly submit a request for a convergence report.

Meanwhile, members of the "We Continue the Change - Democratic Bulgaria" (WCC-DB) group, led by Martin Dimitrov, criticized the government for sabotaging its own eurozone plans. Dimitrov expressed concern over the week-long delay in submitting the budget, which he said could have serious political consequences. He highlighted that Bulgaria was scheduled to present its progress before the Eurogroup on February 17, and this delay could jeopardize the country's ability to request a convergence report at that time. WCC-DB members, including Ivaylo Mirchev, also accused both the Prime Minister and Finance Minister of misleading the public regarding the timeline for the budget submission.

In response to criticism, Temenuzhka Petkova explained that the delay was due to the complex nature of preparing the structural and fiscal plan required for the eurozone process. She reiterated that the delay was not significant and would not affect Bulgaria’s path to joining the eurozone. She also addressed concerns about inflation, noting that once Eurostat’s data is available, the government will be able to proceed with the next steps.

During an appearance on Nova TV, on the question of whether Bulgaria is ready for the eurozone, economist Petya Georgieva and financial analyst Preslav Raykov both affirmed that the country should proceed with joining. Georgieva emphasized the economic benefits, such as increased investment and reduced regional disparities, while Raykov highlighted the political will and determination within the country to make the transition. Both agreed that Bulgaria is ready for the step, although they acknowledged the importance of thorough preparation to ensure success.

Sources:

• BNR
• Club Z
• Nova TV