Bulgaria prepares a national plan for adopting the euro

"We expect that our country will join the eurozone in 2024", Bulgarian Finance Minister Kiril Ananiev said. [Shutterstock/esfera]

Bulgaria’s national plan for adopting the euro will contain details about the actions to be taken by the Bulgarian authorities and business for the successful adoption of the European currency.

“We expect that our country will join the eurozone in 2024. The main tasks of the Bulgarian government on the way to achieving this goal are related to the implementation of subsequent commitments of Bulgaria after it became a part of ERM II in July 2020”, Bulgarian Finance Minister Kiril Ananiev said on Tuesday.

Successful membership in the eurozone requires good preparation of the business sector and the general public to ensure a smooth and rapid transition from payments in levs to payments in euros.

“We work intensively so as to comply with the timeframe and the set a minimum period of stay in ERM II. At the moment, there are no serious risks of non-fulfilment of any of the commitments. Of course, the fulfilment of the Maastricht criteria is relative to dynamic parameters formed by the member states in the eurozone, which are difficult to predict within the current uncertain situation,” Ananiev added.

“The pandemic is a shock for the world and European economy, including the Bulgarian one. The socio-economic consequences are serious but I believe that it will not be a factor in extending our stay in ERM II,” said the minister, adding that “Bulgaria will keep its fiscal sustainability and will manage its public finances in a disciplined and wise manner as it has done for more than 20 years.” (Krassen Nikolov | EURACTIV.bg)

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