Bulgaria's Eurozone Aspirations: Fitch Ratings Affirms Positive Outlook
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
At the proposal of President Rumen Radev Bulgaria will host the sixth summit of the Three Seas Regional Initiative, which brings together 12 EU member states, located between the Adriatic, Baltic and Black seas and which is actively supported by the US. The Bulgarian Head of State invited the US President to participate in the forum at the NATO summit in London. Bulgaria’s hosting the event was discussed today at a meeting between Rumen Radev and Ambassador Herro Mustafa and an American delegation visiting Bulgaria led by Matthew Boyce – US Deputy-Assistant Secretary of State. The meeting was also attended by Iliana Iotova.
The Three Seas initiative was launched in 2015 and aims to promote the transport, energy and digital connectivity in the region through joint projects. At the summits, Bulgaria is represented by the Bulgarian President, at whose proposal and after consultations with the other participant countries Bulgaria will host the top-level forum next year. Rumen Radev and the participants in the meeting were unanimous that Three Seas promotes the conditions for economic and social development in the Eastern European countries, strengthens trade contacts, improves the energy, transport and digital infrastructure. The Bulgarian President also emphasized the importance of the educational and scientific cohesion for the development of the region.
Bulgaria highly appreciates the US support for our country’s efforts in fighting corruption and for strengthening the rule of law. Efficient results in this direction will be achieved only if an uncompromising approach in the spirit of the democratic values is adopted, President Rumen Radev further said at the meeting. The talks covered the whole range of issues of mutual interest that fall within the scope of the Strategic dialogue between Bulgaria and the US – security, economy, energy and education.
The Bulgarian Head of State emphasized that in order to enhance the Strategic dialogue between the two countries, clear guidelines and measures for cooperation in areas of mutual interest should be set. The President called for concrete deadlines and measures for fulfilling the order for new aircraft for the Bulgarian Air Force, including clarifying the necessary additional resources for acquiring full operational capabilities.
“Strengthening the industrial cooperation should be an important element in the program for modernizing our Armed Forces under joint projects with the US,” the President said. Rumen Radev emphasized that in order to bridge the technological and economic gap between the NATO member states, high technologies should be jointly developed and the countries should work on joint projects for the production of military equipment. “The dividing line between Allies of producers and purchasers of military equipment should be overcome. Efforts should be put into ensuring scientific and technological cooperation and the transfer of high technologies,” Rumen Radev said.
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