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
Processes in recent months have had an impact on returns in individual accounts managed by private pension funds as savings for a second pension.
"The processes that affected were not positive, they were bad," financial analyst Ivan Stoykov told BNR's Horizont. The savings of those born after 1959 in a universal pension fund for a second pension underwent adjustments that reduced them, he noted.
The declines, even the collapse of stock exchanges around the world have led to these negatives, Stoykov added.
The funds on the individual accounts are invested by the pension funds managing them and when there are such drastic declines on the stock exchanges, a negative return is registered.
The negative phenomena on the capital markets cannot but affect the profitability in the individual accounts for a second pension, the analyst explained. The effect is clearly visible - half a billion levs of these funds no longer exist.
This is the amount lost by all those who make contributions for a second pension.
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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
According to Dimitar Radev, the Governor of the Bulgarian National Bank (BNB), Bulgaria will not meet all the requirements for joining the Eurozone by the time the convergence report is released in June
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