Bulgaria's Eurozone Entry by 2026: Possible, But Tense, Expert Warns
Financier Plamen Danailov, a municipal councilor from the "There Is Such a People" party, recently discussed Bulgaria's potential adoption of the euro
The request for a convergence report to join the eurozone will be made after February 18, once the draft State Budget is submitted. This was confirmed by Bulgarian Prime Minister Rosen Zhelyazkov during an interview on BNT. He stated that the proposed budget must include a deficit ceiling of up to 3%, emphasizing that joining the eurozone is a key goal outlined in the coalition agreement with "Democratic Bulgaria."
Zhelyazkov explained that Bulgaria must meet specific requirements regarding debt, inflation, and deficit levels before submitting the request for the convergence report. He underscored the importance of maintaining the sustainability of public finances rather than seeking temporary solutions.
When asked about his nomination as prime minister, Zhelyazkov revealed that it was decided around December, during negotiations with "Democratic Bulgaria." He highlighted that these talks ultimately ended when the BSP and TISP expressed support for his nomination, while "Democratic Bulgaria" declined. Despite this, over 90% of the Joint Management Agreement had already been finalized. Zhelyazkov emphasized that the inclusion of "Democratic Bulgaria" in the ruling majority and cabinet would have strengthened the government’s stability and credibility.
Zhelyazkov also addressed the role of "Democracy, Rights and Freedoms" – DPS (Dogan), noting that their support was crucial for forming a government and ensuring political backing for essential actions. However, he clarified that "DPS-New Beginning" (Peevski) is not part of the majority or cabinet. He assured that any undue influence, whether from political formations or individuals, would be addressed through legal channels.
Regarding parliamentary decisions, particularly on immunity requests, Zhelyazkov expressed confidence that they were made in line with legal requirements and majority consensus. He mentioned that larger majorities, such as those exceeding 160 votes, are rarely needed but would be sought in specific cases like the election of the Supreme Judicial Council. He stressed the importance of selecting trusted candidates for regulatory and judicial positions and confirmed that discussions with all political groups would be held when the time comes.
On the topic of Ukraine, Zhelyazkov reaffirmed Bulgaria’s continued support, aligning with EU and NATO measures. He noted that Bulgaria has been aiding Ukraine since the start of the conflict and remains committed to the shared cause. He expressed hope for diplomatic solutions to the ongoing war.
Source: BNT
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