Financier: In Bulgaria, We’ve been Using Euro, which is called Lev, in a ratio of 2 to 1 for 25 Years Now

Business » FINANCE | February 1, 2023, Wednesday // 10:45
Bulgaria: Financier: In Bulgaria, We’ve been Using Euro, which is called Lev, in a ratio of 2 to 1 for 25 Years Now @DarikNews

The lev is attached to the euro, the exchange rate is fixed. In Bulgaria, we operate with the euro, which is called the lev in a ratio of 2 to 1 for 25 years - since the currency board was introduced.” This is what Julian Voinov, a financier, said on Nova TV.

According to him, an assessment of our criteria will be made in April and May, and probably we will not have fulfilled all of them. "It is not scary in the Eurozone, but there are instilled fears. It is ahead of the US and China in terms of growth and brings stability to the member countries. The crisis in Greece was not caused by the Eurozone, but by the way their finances were managed before joining," he pointed out.

According to him, the positive side of joining the Eurozone is lowering the risk premium for investments, increasing the rating to A, as well as reducing interest rates. "Bulgaria fulfills a large part of the technical criteria for the Eurozone, and inflation is starting to fall. Most likely, the legislative process will prevent us from entering in 2024. At the moment, we have not adopted the necessary legislative changes, this may prove to be a stumbling block," believes the expert.

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Tags: euro, lev, Bulgaria, Eurozone

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