Multi-speed Europe

Eurozone GDP remained in positive territory in the second quarter, but the expansion was limited.

Specifically, according to preliminary data released by Eurostat, eurozone and EU GDP grew by 0.3% every quarter, as well as in the first quarter of the year, keeping expectations low, as it appears it won’t take much to bring the economy back into recession.

The Hungarian government has introduced a National Card starting in July that permits Russian and Belarusian "guest workers" to enter Hungary without undergoing the usual security screenings, reports Forbes Hungary. This policy, which follows the closure of the contentious Russian-controlled International Investment Bank (IIB), has sparked substantial national security concerns.

The Budget Committee has approved both bills submitted by the Council of Ministers for the introduction of the euro and the Law on Credit Institutions. To address the unstable political situation and the risk of early elections, the committee decided to grant a mandate to the Ministry of Finance.

The Bulgarian Parliament has recently adopted a decision to accelerate the process of adopting the euro. Under this new directive, the Ministry of Finance is tasked with requesting Bulgaria's Eurozone membership to commence on July 1, 2025, provided the country meets the inflation criteria by the end of this year.

BELGRADE - Serbian PM Milos Vucevic met with North Macedonian Interior Minister Panco Toskovski in Belgrade on Friday to discuss bilateral relations and cooperation on security and in other fields of importance to the citizens of the two states, the PM's office said in a statement.

Bulgaria is unlikely to join the Eurozone in the next two years, according to economist Prof. Krasen Stanchev, founder of the Institute for Market Economy. He explained on bTV's morning program "This Sunday" that the decision is made not by the European Commission or the European Central Bank, but by a qualified majority of Eurozone member countries.

Hungary's Deputy Minister of the Interior, Bence Retvari, emphasized the significance of including Bulgaria and Romania in the Schengen Area by the end of 2024 during Hungary's Presidency of the Council of the EU. He expressed optimism for a timely decision on this matter but did not specify a precise timeline for the vote.

The project for Terminal 3 at Sofia Airport includes plans for airbridges and the option for passengers to walk to and from the planes (the so-called WiWo - walk in, walk out). Milena Mihailova, Director of "Public Relations and Communications" at the concessionaire "SOF Connect," shared this information with TravelNews.

Bulgaria is not prepared to introduce the euro on January 1, 2025, as it fails to meet one of the four criteria for eurozone entry—the inflation level. This was highlighted in a report by the European Commission, adopted on Wednesday.

Bulgaria is expected to adopt the euro at the beginning of 2026, rather than mid-next year as previously forecasted. This update was provided by acting Deputy Prime Minister and Minister of Finance Ludmila Petkova, who emphasized the need for technological time to meet the final criterion for euro adoption.