Bulgaria can meet the criteria for the Eurozone and join it in 2025, according to the chairman of the Eurogroup, Pascal Donahue.
“I think it is very possible that Bulgaria will meet the criteria at some stage this year. But what is more important is when it reaches the criteria,” he said in the program “120 minutes” on bTV.
When asked if it is possible for our country to adopt the euro in 2025, he replied: “It depends on when the criteria are met. I believe that it is very possible that Bulgaria will adopt the euro next year, but for this to happen, we must first the criteria are met. They are in the country’s interest anyway regardless of whether you join the euro.”
Inflation remains key, therefore our country must prove that it can control it to the average levels for the European Union. However, according to Donahue, the Bulgarian authorities are ready to work towards this criterion.
Donahue shared that he noticed that the leva is extremely important to Bulgarians and its replacement with the euro causes concerns, but assured that the European currency has incredible opportunities. He also refuted concerns about a sharp jump in prices after joining the Eurozone – there are minor risks only in the first few months.
At the beginning of the summer – even before the European elections on June 9, tests are conducted that will make it clear whether we are ready for the euro. Subsequently, Bulgaria can request an additional test and report, which Finance Minister Asen Vasilev has already assured that he will demand. The government’s goal is for Bulgaria to join the Eurozone on January 1, 2025.
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