Financial Expert's Projections: If Inflation Continues to Fall Bulgaria Can Adopt the Euro in 2025
Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria's potential adoption of the euro in 2025 or early 2026
Bulgaria's Finance Ministry has downgraded its 2013 economic growth forecast from 1.9% to 1%, according to data from an updated program for national reforms report sent to the European Commission.
In 2014 – 2016, the growth is expected to be 1.8%, 2.9%, and 3.4%, respectively as there are expectations for increased exports and internal market demand.
According to the updated estimates, the unemployment rate in 2013 will be 13%, and will go down to 12.8% in 2014. The high unemployment rate would lead to a modest wage increase between 4% and 6 % in the next seven years.
Inflation in 2013 will be 2.4%, 2.7% in 2014 (the highest in the next 7 years), and will drop to 2% in 2020.
The reduction of administration is expected to generate savings in the amount of BGN 332 M a year by the end of 2014.
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Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria's potential adoption of the euro in 2025 or early 2026
This was stated by the Governor of the Bulgarian National Bank at the international conference "Bulgaria in the Eurozone, When?" in Sofia
Former Finance Minister Simeon Dyankov has suggested that Bulgaria's potential entry into the Eurozone may not materialize before 2026
In the initial quarter of 2024, Bulgaria's economy expanded by 0.4%, as per an expedited evaluation by the National Statistical Institute (NSI), a slight deceleration from the 0.5% growth witnessed in the final quarter of the preceding year
According to Levon Hampartzoumian, the likelihood of Bulgaria joining the Eurozone in 2025 is very slim, as no country has ever entered during the middle of the year
According to Dimitar Radev, the Governor of the Bulgarian National Bank (BNB), Bulgaria will not meet all the requirements for joining the Eurozone by the time the convergence report is released in June
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