Bulgaria’s Eurozone Entry Will Not Lead to Debt Risks, Assures Central Bank Chief
The Bulgarian National Bank will stay the course with its conservative and stability-oriented monetary policy even after the country enters the eurozone
BNB increased the main interest rate in February to 1.82. In January it was 1.42%.
The central bank started increasing the main interest rate since October last year, when it went from 0 percent to 0.49 percent.
In its pure form, the basic interest rate is applied to a limited extent in the banking market, but it is a prerequisite for determining the reference interest rates of credit institutions.
With its increase, the legal interest for delay also increases, which is 10% plus the value of the indicator.
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With Bulgaria set to adopt the euro on January 1, 2026, questions are surfacing about whether the country might face financial risks similar to those that led to Greece’s debt crisis
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