Euro

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.

The current account for Bulgaria in January 2024 showed a slight deficit of EUR 3.6 million, as reported by the latest data from the Bulgarian National Bank (BNB) regarding the country's balance of payments. However, this deficit marked a significant improvement compared to the previous year, with a deficit of EUR 267.7 million in January 2023.

BELGRADE - The Serbian dinar's official median exchange rate against the euro is 117.2100 dinars for one euro on Wednesday, which is a slight change from Tuesday, the National Bank of Serbia said.

The dinar is steady against the euro m-o-m, up by 0.1 pct y-o-y and steady relative to the beginning of the year.

Data released by Eurostat reveals a notable deceleration in wage growth across the European Union (EU) and the eurozone during the final quarter of 2023. While the average hourly wage in the EU increased by 3.8%, representing a marked slowdown from the previous quarter, Bulgaria saw a notable rise of 11.9%, according to the latest figures.

Greece continues to have the worst performance in household credit, registering a consistently negative rate, which was -1.7% in January against a 0.3% increase in the eurozone, according to a report published on Thursday by DBRS Morningstar, focusing on the "slow production of new mortgage loans."

According to Eurostat's latest publication, in the fourth quarter of 2023, the euro area witnessed a job vacancy rate of 2.7%, marking a decline from 2.9% in the preceding quarter and 3.1% in the same period of 2022. Notably, Bulgaria and Romania recorded the lowest job vacancy rates during this period, standing at 0.7% in both countries, BTA reported.

Eurogroup President Paschal Donohoe confirmed that Bulgaria could adopt the euro in 2025. This statement came following discussions with Bulgarian officials, including outgoing Prime Minister Nikolay Denkov, outgoing Deputy Prime Minister Mariya Gabriel, and outgoing Finance Minister Assen Vassilev.

BELGRADE - The Serbian dinar's official median exchange rate against the euro is 117.1852 dinars for one euro on Tuesday, which is a slight change from Monday, the National Bank of Serbia said.

The dinar is steady against the euro m-o-m, up by 0.1 pct y-o-y and steady relative to the beginning of the year.