Eurozone nations have expressed their support for Bulgaria’s progress toward adopting the euro, as highlighted in the Eurogroup’s conclusions during the European Council meeting in Brussels. The statement noted that the next step would be to await the assessments from the European Commission and the European Central Bank (ECB).
Prime Minister Rosen Zhelyazkov, speaking to Bulgarian journalists in Brussels, expressed optimism about the country’s readiness, stating that the extraordinary reports regarding Bulgaria’s adoption of the euro would likely be completed until May or June. Bulgaria formally requested the preparation of these reports from the ECB and the Commission in February. According to Eurostat, Bulgaria’s inflation rate, as of February, now meets the EU’s requirements for price stability.
Zhelyazkov also held discussions with ECB President Christine Lagarde and Eurogroup head Paschal Donohoe on March 20, focusing on Bulgaria’s eurozone accession. The talks took place during the European Council meeting, where Zhelyazkov briefed the officials on Bulgaria’s current fiscal plans, including the draft state budget for 2025, and its alignment with medium-term fiscal and structural goals. He reiterated that Bulgaria had met the Maastricht criteria for joining the eurozone and highlighted the country’s ongoing commitment to fiscal discipline.
In the same vein, Donohoe praised Bulgaria’s efforts towards adopting the euro, affirming that the country’s progress would be evaluated by the EU institutions this spring. He commended Bulgaria’s dedication and urged the continuation of reforms to ensure sustained economic convergence. (Novinite)