Enlargement of the eurozone

If Bulgaria fails to meet European Central Bank inflation targets in June, its planned accession to the eurozone in 2025 could be delayed by months, the country's central bank governor has said.

In a recent interview with BTA, Kristalina Georgieva, Managing Director of the IMF, emphasized the importance for Bulgaria to seize the opportunity to adopt the euro, stressing that it is achievable with the right political will.

In a significant move toward Bulgaria's integration into the Eurozone, the European Commission (EC) has pledged support for the country's efforts to promote the adoption of the euro.

As Bulgaria steers towards adopting the euro, economists dispel concerns over potential price increases, assuring the public that the impact on inflation will be minimal. Renowned economists, including Petar Ganev and Preslav Raykov, have weighed in on the matter, emphasizing the stability and positive prospects associated with the currency transition.

The Ministry of Finance has released a draft law for public discussion concerning the adoption of the euro in Bulgaria. The primary aim of the proposal is to ensure a smooth and transparent transition to the European currency.

The Ministry of Finance has made public the draft Law concerning the implementation of the euro in the Republic of Bulgaria, inviting public discourse. The objective of this initiative is to facilitate the seamless integration of the euro into Bulgaria and enhance transparency and understanding regarding the adoption process of the unified European currency within the nation.

In a proactive move towards preparing Bulgarian citizens and businesses for the adoption of the euro, the Ministry of Finance has unveiled a comprehensive information website dedicated to the impending transition. Еврото.бг, the newly launched platform, aims to furnish users with reliable and timely updates on all facets of Bulgaria's integration into the Eurozone.

Bulgaria's strides towards adopting the euro have garnered recognition and praise from the eurozone countries. A statement issued at the recent summit of eurozone nations commended Bulgaria's efforts on the path to euro adoption and urged continued commitment until all convergence criteria are met.

Jean-Francois Dauphin, the head of the International Monetary Fund (IMF) mission in Bulgaria, has expressed confidence that Bulgaria's accession to the Eurozone by 2025 is a realistic goal. The IMF's assessment comes as part of its regular evaluation of Bulgaria's economic performance, which forecasts a 2.7 percent growth rate for the country's economy this 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.