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Bulgaria remains committed to joining the Eurozone as swiftly as possible, with technical preparations progressing well. This was emphasized by Deputy Prime Minister and Finance Minister Lyudmila Petkova during the July meeting of the Economic and Financial Affairs Council in Brussels, according to the Bulgarian ministry's announcement.
Petkova indicated that once Bulgaria fulfills the final criterion related to price stability, the country plans to request expedited convergence reports from European institutions.
Receiving a prompt evaluation of Bulgaria's readiness and a definitive timeline for accession is crucial, Petkova added. This will provide essential predictability for both businesses and the public, allowing adequate time to finalize the necessary steps in the process.
In June, Bulgaria's annual inflation rose to 2.5% from 2.3% in May, according to the National Statistical Institute, despite a monthly deflation of 0.2%. Minimal price increases were noted in health services and entertainment, while significant rises over two percent occurred in restaurants and accommodations.
Most categories, including food and clothing, experienced price declines. Year-to-date inflation is at 0.2%, and the average annual rate from July 2023 to June 2024 decreased to 4.6%. The Harmonized Index of Consumer Prices reported monthly inflation of 0.2% and annual inflation of 2.8% for June. Meanwhile, May saw two consecutive months of deflation for the first time since 2020, with an annual inflation drop to 2.3%.
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