CNBC: Not All Bulgarians Convinced Joining the Eurozone Is a Good Idea
Bulgaria is preparing to adopt the euro, but not everyone in the country is on board
‘’Accession to the Eurozone remains top priority for Bulgaria’’, Finance Minister Vladislav Goranov said at a conference for the 25th anniversary of the Association of Commercial Banks in Bulgaria, according to BNR.
‘’I heard an interesting announcement from Commissioner Moscovici that an unconventional proposal to the countries outside the Eurozone was in the pipeline. I am looking forward to it with interest, because Bulgaria is one of the countries outside the Eurozone. We are convinced that this is the only natural course of the Bulgarian monetary policy’’, he pointed out.
Vladislav Goranov confirmed that from 15 September teachers will receive a pay rise. After that a new method will be used to evaluate the results of their work.
Bulgarian National Bank Governor Dimitar Radev also confirmed accession to the Eurozone as an ultimate goal but added that before that there were tasks that Bulgaria should reform.
In recent weeks, Bulgaria has seen a noticeable uptick in demand for euro banknotes
The adoption of the euro in Bulgaria is not expected to cause fast loans to become more expensive
Although converting leva into euros may appear straightforward - just divide by the fixed rate of 1.95583 - reality brings far more complexity
The Bulgarian National Bank will stay the course with its conservative and stability-oriented monetary policy even after the country enters the eurozone
The demand for euros in Bulgaria has surged by about 50%
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