Bulgaria got green light to the European Commission to join the euro area. In the opinion of Petyr Diłów, the Minister of Economy and Industry, the adoption of a common currency is a chance for Bulgarians. “All industries will benefit from Euro,” he assessed.
In an interview with Bulgarian public television, Diłow assured that the introduction of the euro planned for January 1, 2026 in Bulgaria will not increase growth electricity prices nor fuels. He also emphasized that government agencies monitor all price movements so as to react in the event of unjustified increases.
Diłow also emphasized that small and medium -sized enterprises are “fully prepared and clearly see the benefits of receiving the euro.” He added that technical details remained to finalize.
– All industries will benefit from Euro, including tourism – said the Bulgarian minister and added that accession to the euro area It should also improve the country's creditworthiness.
Sofia, BulgariaShutterstock
Not only the euro in the government's plans
The minister pointed out that in March GDP Bulgaria increased by 3.1 percent in an annual basis, and in the ranking of debt against GDP, the country is in second place in the EU (one of the lowest indicators).
The head of the Bulgarian Ministry of Economy and Industry added that the authorities in Sofia are actively striving to join the organization of economic cooperation and development, and to remove from the so -called “gray list” Fatf, i.e. an institution that counteracts money laundry, financing terrorism and other threats to the international financial system.
Bulgaria would be the 21st member of the euro area and the second country after Croatiawhich will join the euro area over the past decade.
Source of the main photo: Shutterstock