PM Borisov: We have in Fact Fulfilled the Numerical Criteria for Entering the Currency II Mechanism
Bulgaria's macroeconomic development and Bulgaria's readiness to join the eurozone were the main topics discussed by Prime Minister Boyko Borisov and European Commission Vice President Valdis Dombrovskis.
The meeting marked the positive development of the main macroeconomic, fiscal and financial indicators that take into account Bulgaria's readiness for joining the euro area, the government's press service announced.
Borisov pointed out that in practice we have met the numerical criteria for entering ERM I. The Vice-President of the European Commission expressed his satisfaction with the reduction of our external debt, which at the end of 2017 reached 25.4% of GDP and ranked Bulgaria third among the EU Member States with the lowest level of consolidated government debt.
Prime Minister Borisov pointed out that the prudent and predictable fiscal policy pursued, the relatively low level of government debt - well below the 60% of GDP reference value, the government's measures to improve the business environment have led to increased investor confidence and stronger trade integration of our country. Borisov expressed the expectation that these positive results will lead to higher economic growth and higher incomes for people in Bulgaria.
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