Bulgarian Financier: Adoption of the Euro will Not Raise Prices

Business » FINANCE | February 2, 2023, Thursday // 11:10
Bulgaria: Bulgarian Financier: Adoption of the Euro will Not Raise Prices @Admiral Markets

"Adopting the euro will not cost anyone anything. Price hikes are newspaper headlines. Switching from one currency system to another does not lead to an increase in prices. Croatia entered Schengen, it will probably have a good tourist season".

This was explained by financier Levon Hampartsumyan on Nova TV.

"The trend is to increase the main interest rates in the world. Bulgaria is a bit late with this, but we are connected through the currency board. By raising interest rates, the Central Bank wants to help suppress inflation. It is expected, it will not cause any shock. It is done carefully - in steps", explained the banker.

The reason for his words is the new record of the main interest rate in Bulgaria. BNB announced that as of February 1, it is 1.82%.

"Inflation pumps up prices, there is an increase in prices, but also in wages," Hampartsumyan said.

Asked whether or not now is a good time to take out loans, he replied: "There is no universal advice as to whether now is the time to take out loans." According to him, if a person has a good perspective and is younger, he can take a loan. "Another who can't get a loan, but has an intolerable mother-in-law, it's good to toughen up," said the financier with a smile.

 If one does not feel confident, it is better to wait," advised Levon Hampartsumyan.

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Tags: euro, Hampartsumyan, Bulgaria, prices

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