Petar Chobanov issued a warning about the minimum wage.
“The central bank has a specific mandate, and we at the BNB strive not to expand this mandate – all exotic ideas about adding powers that can expand the mandate are redundant. Economic development is driven by a data-based approach. We are have developed capacity regarding the development of the Bulgarian economy and the forecasts we make turn out to be close to reality and help us in making decisions,” said the deputy governor of the BNB during the business forum “Finance: Equations and Solutions”, organized by Bulgaria ON AIR and Bloomberg TV Bulgaria.
Petar Chobanov revealed 10 benefits of the euro
According to him, keeping the budget deficit close to 3%, the question remains whether we will be able to preserve it.
“We continue to maintain high buffers necessary for stability. This year we have also taken measures aimed at borrowers in view of the situation in the real estate market and some growth rates that may appear beyond the notions of stability,” Chobanov added.
“We have risks that this 3% will be violated next year and we will fall into a situation of excess deficit. We must avoid this situation. The situation with the minimum wage definitely creates many more risks than it solves problems. We need to restore the balance in the pension system” , explained the guest.
Chobanov is adamant that the inflation forecasts at the end of the year show that the criterion for the euro can be met, but with the current political situation it remains to be seen whether it will be enough.
He emphasized that the investments are related to the general development of the financial system in European terms, but we must first see if there will be an adopted budget and then try to make things look more reasonable.
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**Beyond meeting the inflation criteria, what key political and economic reforms are essential for Bulgaria to successfully adopt the euro and ensure a smooth transition into the Eurozone?**
## Interview: Bulgaria’s Economic Future – A Discussion with Experts
**Introduction:**
Welcome to World Today News. Today, we’re joined by two prominent figures in the Bulgarian economic landscape to discuss recent statements made by Petar Chobanov, Deputy Governor of the Bulgarian National Bank (BNB), regarding the minimum wage, euro adoption, and the nation’s economic outlook.
Joining us today are:
* **[Guest 1 Name & Credentials]:**
* **[Guest 2 Name & Credentials]:**
Thank you both for being here today. Let’s dive into this important conversation.
**Section 1: Minimum Wage and its Impact**
**World Today News:** Mr. Chobanov highlighted concerns about the minimum wage potentially creating more risks than solutions. Could you elaborate on this statement and provide your perspectives on the broader implications of raising the minimum wage in Bulgaria’s current economic climate?
* **Guest 1 Response:**
* **Guest 2 Response:**
**World Today News:** What are some potential solutions to balance the needs of workers seeking a living wage with the concerns about economic stability raised by the BNB?
* **Guest 1 Response:**
* **Guest 2 Response:**
**Section 2: Euro Adoption and the Path Forward**
**World Today News:** Mr. Chobanov expressed optimism about meeting the inflation criteria for euro adoption but emphasized the importance of political stability. What factors, beyond inflation, will be crucial for Bulgaria’s successful entry into the Eurozone? What potential challenges and opportunities do you foresee?
* **Guest 1 Response:**
* **Guest 2 Response:**
**World Today News:** Do you believe the current political climate in Bulgaria poses a significant obstacle to euro adoption? What steps could be taken to address these concerns?
* **Guest 1 Response:**
* **Guest 2 Response:**
**Section 3: Fiscal Responsibility and Economic Growth**
**World Today News:** Mr. Chobanov stressed the importance of maintaining a budget deficit close to 3%. Looking ahead, what fiscal policies do you believe are crucial for maintaining Bulgaria’s economic stability and promoting sustainable growth?
* **Guest 1 Response:**
* **Guest 2 Response:**
**World Today News:** What are your thoughts on the BNB’s recent measures aimed at borrowers in the real estate market? Are these measures sufficient to mitigate potential risks?
* **Guest 1 Response:**
* **Guest 2 Response:**
**Closing:**
**World Today News:** Thank you both for sharing your invaluable insights on these critical issues facing Bulgaria’s economy. This has been a very informative and thought-provoking discussion.
