Bulgaria's New Finance Minister Prioritizes Eurozone and Full Schengen Membership

Business » FINANCE | April 9, 2024, Tuesday // 13:42
Bulgaria: Bulgaria's New Finance Minister Prioritizes Eurozone and Full Schengen Membership

The newly appointed Acting Deputy Prime Minister and Minister of Finance, Lyudmila Petkova, has reaffirmed the country's commitment to joining the Eurozone, the Organization for Economic Co-operation and Development (OECD), and achieving full-fledged Schengen membership. Speaking at the ceremony marking her assumption of office from her predecessor Asen Vassilev, Petkova outlined her priorities for the finance ministry, signaling a proactive approach to advancing Bulgaria's European aspirations, reports BTA.

Petkova emphasized the importance of finalizing a partnership agreement between the European Commission and Bulgaria on communication and information strategies for the introduction of the euro. With an upcoming ECOFIN meeting scheduled for April 12, Petkova aims to solidify Bulgaria's path toward Eurozone accession, underscoring the significance of economic convergence and stability within the European Union.

Furthermore, Petkova highlighted the ongoing project for the creation of a unified revenue agency, which entails merging the National Revenue Agency and the Customs Agency. Recognizing the potential efficiencies and benefits of streamlining tax administration, Petkova affirmed her commitment to advancing this initiative to enhance fiscal governance and combat tax evasion.

Addressing the financial implications of upcoming parliamentary and European elections, Petkova disclosed that approximately BGN 100 million will be allocated for election-related expenses. Additionally, she emphasized the need for supplementary funding to support the Central Election Commission (CEC) in its operational activities during the electoral process.

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Tags: Bulgaria, finance, Eurozone, Schengen

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