Bulgaria Grapples with Soaring Corruption Rates: New Report Reveals Shocking Data
Corruption in Bulgaria has soared to its third highest peak in history, according to a recent report by the Center for the Study of Democracy
Bulgaria's place is unquestionably inside the single currency and it could potentially join the eurozone within five years, the finance minister has said.
Bulgaria has frozen its application to be part of the euro, but Minister Simeon Djankov told The Times it was conceivable that it could join within five years if the currency area made further progress.
Europe's proposed Banking Union is the main topic of the interview and Bulgaria's Deputy Prime Minister argues all members must be granted equal voting status to avoid creating distortions in the financial sector.
According to Minister Djankov the voices of non-euro members such as Bulgaria needed to be properly represented within the mooted single bank supervisor to be located at the European Central Bank.
A natural consequence would be that non-euro members of the Banking Union should also gain access to the region's bailout fund during banking crises, he said.
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Amidst discussions about Bulgaria's journey towards joining the Eurozone, Deputy Governor of the Bulgarian National Bank (BNB), Petar Chobanov, highlighted the robustness of Bulgaria's banking system, stating it aligns closely with Eurozone standards
In a recent interview with BTA, Kristalina Georgieva, Managing Director of the IMF, emphasized the importance for Bulgaria to seize the opportunity to adopt the euro, stressing that it is achievable with the right political will
In its latest macroeconomic forecast released on Tuesday, the Bulgarian National Bank (BNB) anticipates a 2.2% increase in Bulgaria's Gross Domestic Product (GDP) for the year 2024, compared to 1.8% in 2023
As Bulgaria inches closer to potential entry into the Eurozone, a closer examination of the nation's banknote circulation provides valuable insights into its monetary landscape
In a recent report by the National Statistical Institute, Bulgaria's annual inflation rate for March witnessed a notable deceleration, settling at 3% compared to the previous month's figure of 3.0%
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