Bulgaria’s Minister of Finance: Our Country Will Join Eurozone in 2024

"We expect our country to join the eurozone in 2024. The main tasks of the Bulgarian Government on the way to achieving this goal are related to the fulfilment of the subsequent commitments under the Roadmap after the accession of the Bulgarian Lev to ERM II, as of July 10, 2020. 

This said Minister of Finance Kiril Ananiev in an interview at the annual Euromoney Forum for Central and Eastern Europe, which for the first time in its 26-year history takes place virtually in the period 12-14 January 2021.

Focus of the event are the financial and economic challenges faced by countries in the region, with representatives of the European Commission, the European Bank for Reconstruction and Development, the European Investment Bank, investment firms, banks, ministers of the finances of Poland and the Republic of North Macedonia.

The Bulgarian Finance Minister added that for our successful membership in the euro area we need good preparation of all business entities and the public for a seamless and quick transition from payments in BGN to payments in euro.

Minister Ananiev announced that a National Plan for the introduction of the euro in Bulgaria is under preparation, which will detail the activities to be undertaken by the Bulgarian authorities and businesses for the successful introduction of the single European currency in the country.

In his words, the fulfillment of nominal convergence criteria (the so-called Maastricht criteria) and taking measures to address the discrepancies found in the ECB and EC 2020 Convergence Reports are also an important aspect of the preparatory activities: "We are working intensively so as to comply with the time frame and the minimum term set for stay in ERM II.