Head of the Bulgarian National Bank: Joining the Eurozone will Speed Up Structural Reforms in our Country

Business » FINANCE | December 9, 2022, Friday // 11:14
Bulgaria: Head of the Bulgarian National Bank: Joining the Eurozone will Speed Up Structural Reforms in our Country @BNR

The introduction of the euro is a normalization and upgrade of the monetary regime in Bulgaria”, stated the governor of the Bulgarian National Bank (BNB), Dimitar Radev, during a conference in Sofia.

Joining the Eurozone will allow the central bank to conduct monetary policy”, Radev added.

"Joining the Eurozone will speed up the process of structural reforms in Bulgaria. A process that is seriously delayed. It will improve financing conditions and also increase investment in the country. The combination of all these factors creates an environment for achieving sustained, outpacing economic growth, and this is precisely the leading factor for accelerated convergence and, of course, for increased incomes."

The increase in the minimum wage will increase the deficit in the treasury by about a billion leva

Raising the minimum wage to BGN 850 will increase the deficit in the treasury by around one billion BGN”, said Finance Minister Rositsa Velkova.

She participated in a conference dedicated to the advantages of adopting the euro.

According to Velkova, joining the Eurozone will expand the opportunities to increase incomes in our country and improve the investment environment in Bulgaria.

"We will participate in the decision-making in the Eurogroup. We are currently not allowed to participate! In fact, when we are in a currency board, the monetary policy conducted by the European Central Bank is directly reflected in us."

Asked to comment on the protest of "Vazrazhdane" in front of the building where the conference is held, Velkova recalled the decision of the National Assembly with a constitutional majority to continue its path towards the introduction of the single European currency.

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Tags: Eurozone, Bulgarian, bank, euro

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