24.02.2023
The major discussion about Bulgaria’s way to the Euro and about the Bulgarian citizens’ acceptance of the idea of accession to the Eurozone was opened today by Prime Minister Galab Donev. The government’s public awareness campaign was launched at a thematic conference that was organized by the Ministry of Finance and that is intended to bring to the Bulgarian public all facts regarding Bulgaria’s accession to the Eurozone and to dispel credibly any irrational fears.
“The country’s accession to the world’s most developed economic and monetary union and the adoption of the second global reserve currency as the official monetary unit will make Bulgaria better prepared for both the current and possible future crises. This will give us additional stability both financially and economically as well as geopolitically,” Prime Minister Galab Donev said. In his words, the accession to the Eurozone is one of the factors that help the country become richer, give additional impetus to reforms and accelerate convergence with the most developed EU countries. The Prime Minister pointed out that this will lead to predictability and stronger stability, and will give advantage to businesses by the promotion of investment in the creation of first class jobs.
Prime Minister Galab Donev paid special attention to inflation. “The issue of the changing prices upon accession to the Eurozone is an issue that Bulgarians are particularly sensitive to and it is our task to provide better clarification,” Galab Donev noted. In response to existing concerns in Bulgaria, the Prime Minister pointed out that the analyses in the countries that have already adopted the Euro shows that the accession to the Eurozone does not significantly impact inflation while the main risks stem only from unfair commercial practices. Accordingly, the Prime Minister assured that the lessons learned from Croatia would be applied in Bulgaria by means of double price tags, reports of malpractices, fair trade campaigns, etc. Alongside, the Prime Minister cited a number of positive examples from the new EU member states such as Lithuania and Estonia where the quality of life improved significantly, after they joined the Eurozone.
In conclusion, Prime Minister Galab Donev stated that the caretaker government is determined to continue with the practical preparation of the country at a faster pace as heretofore. In the march towards the Euro Bulgaria will continue to rely on the European Commission’s support and partnership.
