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Bulgarian Finance Minister Simeon Djankov is calm since the Bulgarian lev is actually tied to the "deutsche mark". Photo by BGNES
Bulgaria should not be worried about its currency board in the event of a collapse of the euro, according to Bulgarian Finance Minister Simeon Djankov,
Djankov commented on the euro zone debt crisis in an interview for Reuters cited by the press service of the Bulgarian Finance Ministry.
In it, he stressed that Bulgaria is not worried about the board that pegs the Bulgarian lev to the euro.
"The [Bulgarian] government is not worried about that peg because it is actually to the Deutsche mark and - in the event of any changes to the euro zone - it would continue to follow whatever Germany used," Djankov is cited as saying.
The currency peg means interest rates must track euro zone rates, leaving fiscal policy as the government's main tool to influence the economy.
Nikolay Vassilev, former Minister of Economy, dismissed claims that prices in Bulgaria have doubled following eurozone-related developments, arguing instead that inflation remains low and that public fears about sharp price increases are exaggerated.
Unemployment in the euro area edged up slightly in February, reaching 6.2% compared to the record low of 6.1% recorded in January, according to figures released by Eurostat
With the initial months following the introduction of the euro, institutional oversight in Bulgaria is gradually shifting from intensive inspections to a more systematic and long-term monitoring framework
The Bulgarian real estate market is showing signs of cooling in early 2026, with experts reporting a slowdown in transactions and a shift toward more balanced conditions between buyers and sellers
The Bulgarian National Bank reported that by March 27, 2026, the transition from the lev to the euro is progressing in line with the established legal framework and previously approved operational plans.
The Court of Justice of the European Union has rejected a request to temporarily suspend the planned introduction of the euro in Bulgaria, according to rulings issued by the President of the General Court
Bulgaria recorded only a modest and one-off increase in inflation following the adoption of the euro on January 1, with the effect estimated at between 0.3 and 0.4 percentage points
Data released by the Ministry of Finance, covering budget execution for February 2026 and preliminary estimates for March 2026, indicate a marked deterioration in Bulgaria’s fiscal position
In the 2026 edition of the Index of Economic Freedom, compiled by the Heritage Foundation, Bulgaria is placed 38th out of 176 countries, positioned between Costa Rica and Oman
Finance officials and the Bulgarian National Bank have issued a series of warnings about Bulgaria’s fiscal and economic outlook for 2026, highlighting rising pressure on public finances, slower growth, and higher inflation.
With the initial months following the introduction of the euro, institutional oversight in Bulgaria is gradually shifting from intensive inspections to a more systematic and long-term monitoring framework
Bulgarian National Bank Governor Dimitar Radev has warned that inflation risks are increasingly driven by geopolitical developments, stressing that Bulgaria remains firmly anchored within the European institutional and political framework
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