Bulgaria Meets All Criteria for Euro Adoption, Eyes Positive EC and ECB Reports
Bulgaria anticipates favorable outcomes from the upcoming reports by the European Commission (EC) and the European Central Bank (ECB) on its euro adoption
Minister Goranov: BGN-EUR Exchange Rate Won't Change
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After consultations with the political forces in parliament, Finance Minister Vladislav Goranov stated that until its entry into the Eurozone Bulgaria will not change the exchange rate of the Bulgarian Lev which is now pegged to the Euro at EUR 1 to BGN 1.95583, BNR reported.
Minister Goranov made this statement with regard to the fears that during the country’s time within the ERM II this fixed exchange rate could be altered. Bulgarian National Bank governor Dimitar Radev commented that, after his meetings with the individual parliamentary groups, he is optimistic that Bulgaria will enter the currency mechanism, and the Eurozone, with the exchange rate currently in place.
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