PM Zhelyazkov and EU Council President Costa Push for Enhanced Bulgarian Defense Capabilities
Prime Minister Rosen Zhelyazkov, alongside European Council President Antonio Costa, visited the Arsenal military plant in Kazanlak
Banker and economist Levon Hampartsumyan addressed concerns about Bulgaria's adoption of the euro, emphasizing the need to overcome fears and embrace the impending change. According to Hampartsumyan, the shift to the euro as the primary measure of economic success will not only be seamless but also without financial burdens for the public.
Contrary to apprehensions, he assures the public that currency conversion from leva to euros will be facilitated by the state at no cost to individuals, eliminating fees and commissions. Hampartsumyan further dispels worries related to mortgage loans, assuring that figures will not be rounded, and the conversion process is likely to be automatic to avoid administrative complexities.
"The National Bank will exchange leva for euros indefinitely," assured Hampartsumyan, drawing parallels with Germany, where individuals still possess around 30 billion Deutsche Marks, emphasizing that the value of exchanged money will persist after the euro adoption.
Meanwhile, Bulgaria's National Bank (BNB) Governor Dimitar Radev expressed confusion over the lack of discussion in the National Assembly regarding the bank's 2022 report on the benefits and drawbacks of Bulgaria's entry into the Eurozone. Radev calls for the avoidance of political entanglements with the institution.
As Bulgaria navigates the path toward euro adoption, Hampartsumyan's insights aim to allay concerns and foster a positive outlook, emphasizing the long-term stability and benefits associated with the transition.
Bulgaria anticipates favorable outcomes from the upcoming reports by the European Commission (EC) and the European Central Bank (ECB) on its euro adoption
A month after Bulgaria receives approval to join the eurozone, all traders are required to display prices in both leva and euros
The International Monetary Fund (IMF) has revised its forecast for Bulgaria’s economic growth, predicting a slowdown to 2.5% in 2025
Following its earlier confirmation of Bulgaria's credit rating at Baa1, Moody's has revised the outlook for the country's banking sector from stable to positive
Cryptocurrency has become a significant part of the financial world, but as it grows, so do the questions about Know Your Customer (KYC) requirements.
Macroeconomist Stoyan Panchev, an analyst from the Expert Club for Economics and Politics, warned that Bulgaria could face significant challenges if it rushes into joining the eurozone
Google Street View Cars Return to Bulgaria for Major Mapping Update
Housing Prices Soar in Bulgaria’s Major Cities as Demand and Supply Strain Increase