Bulgaria is nearing the fulfillment of its last nominal criterion for joining the eurozone, with expectations set for mid-January. Prime Minister Dimitar Glavchev announced this during a government meeting, emphasizing that progress on the path to adopting the euro remains "open and unobstructed." The final criterion concerns price stability, requiring that a country's average inflation rate over a one-year period does not exceed by more than 1.5 percentage points the rate in the three EU member states with the lowest inflation. Bulgaria has yet to meet this condition, but Glavchev expressed confidence in overcoming it soon.

The Prime Minister disclosed that he had requested a faster assessment of the convergence report from the European Commission and the European Central Bank. He stressed that the government is committed to ensuring Bulgaria's readiness for eurozone membership within its mandate. According to a National Assembly decision, once the criterion is met, the government must request updated convergence reports from Brussels and Frankfurt within two weeks.

Glavchev also reiterated Bulgaria's recent success in securing full membership in the Schengen Area. He highlighted the achievement of access by air and sea on March 31 and acknowledged the caretaker government’s role in facilitating the acceptance by land borders. He noted that only a brief period during this process did not involve the caretaker government’s efforts.

During the same meeting, Glavchev criticized the National Assembly for going on recess before resolving key issues, including the state budget for the upcoming year. The caretaker government had submitted a budget proposal, but parliamentary inaction has left the matter unresolved. Glavchev pointed out that the delay prevents the extension of the previous budget's validity without violating the law. He also expressed frustration that parliament failed to address an agreement with Ukraine, adding that the proposed 10-year validity of the agreement exceeded the caretaker government's temporary mandate as defined by a 1992 Constitutional Court decision.

Earlier in the day, Glavchev, alongside Energy Minister Vladimir Malinov, visited the Chaira Pumped Storage Hydro Power Plant to inspect ongoing repair work. He described the facility as the largest underground plant in the Balkans and emphasized its importance for balancing the energy system. One of its units can supply between 130 and 210 megawatts of power, and if all four units are operational, they would generate energy comparable to a unit of the Kozloduy Nuclear Power Plant. This stored energy can be deployed as needed, contributing to the country’s energy security.

Reflecting on the agreement with Ukraine, Glavchev reiterated his position that there are no substantive concerns, aside from the duration of the proposed 10-year term. He explained that signing such an agreement would conflict with the caretaker government's temporary mandate. He expressed hope that the next government would finalize the matter, jokingly dismissing the idea of the caretaker administration lasting a decade.

Sources:

• Bulgarian National Television (BNT)
• OFFNews