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
Poland may adopt the euro in 2014- 2015, while Hungary, Bulgaria and Romania are a story for the second half of the next decade, Morgan Stanley said in a report.
The fiscal deficit limit of 3% of gross domestic product "looks like a distant prospect" for all the eastern European Union members, Pasquale Diana, an economist at Morgan Stanley in London, wrote in the report, as cited by Bloomberg agency.
Deficits in Poland, the Czech Republic and Romania are "heading to around 6% of GDP this year, maybe even wider in 2010 and are unlikely to shrink to the euro limit until 2013- 2014," according to the report, which also forecasts debt ratios "heading dangerously" to 60% of GDP in Poland and to 80% in Hungary.
Bulgaria's entry in the eurozone, initially scheduled for 2010, has been set back for some time around 2012-2013. Experts say it is conditional on continued fiscal prudence and lower inflation.
In fact, Bulgaria has yet to join the Exchange Rate Mechanism, the "waiting room" for euro membership, amid concerns about its inflation rates and external trade imbalances. Stricter application of membership criteria has also been a factor in the delay.
Bulgaria plans to apply in November to join the exchange-rate mechanism, the European Union's two-year currency stability test before the country can drop the lev and adopt the euro.
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In April, inflation across the European Union remained steady, with both the EU and the Eurozone recording a rate of 2.6% and 2.4%, respectively, according to data from Eurostat, the official statistics agency of the EU
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
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