Stable Finances Pave the Way for Bulgaria’s Next Eurozone Steps

Business » FINANCE | January 16, 2025, Thursday // 14:12
Bulgaria: Stable Finances Pave the Way for Bulgaria’s Next Eurozone Steps

Bulgaria is expected to request extraordinary convergence reports from the European Commission and the European Central Bank for eurozone entry by the end of January, according to former Finance Minister Lyudmila Petkova. She made the announcement during a visit to the Ministry of Finance following the official handover ceremony for the newly formed government.

Petkova, who will continue serving as deputy to the new Finance Minister Temenuzhka Petkova, emphasized that the new leadership is inheriting stable public finances. She highlighted that the state budget for 2024 is designed to meet the 3% deficit target. Additionally, the recently adopted Law on the Collection of Revenues and Execution of Expenditures provides a solid framework for managing state finances.

The former minister expressed optimism about the smooth transition, noting that a presidential decree related to the law's implementation is expected soon. This step is anticipated to ensure stability and reassure the public. She also reaffirmed that salaries and pensions remain top priorities, with guarantees that they will be paid fully and on time as stipulated by law.

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Tags: Eurozone, Bulgaria, European

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