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Bulgaria will not lift the currency board which pegs the Lev to the Euro

Photo: BGNES

Bulgaria will not lift the currency board which pegs the Bulgarian lev to the Euro, the governor of the Bulgarian National Bank Dimitar Radev said. This topic has never been discussed during the talks with the European financial institutions, Dimitar Radev underlined. Bulgaria will enter the Eurozone with the current exchange rate between the Lev and the Euro and the Bulgarian Lev will no longer be an official currency when we adopt the single European currency, Bulgaria’s Minister of Finance Vladislav Goranov pointed out. Prices will not soar when Bulgaria becomes a member of the Eurozone, this country’s Premier Boyko Borissov said at the 14th annual conference “Government Meets the Business” in Sofia. The Lev will be pegged to the Euro at the current rate when Bulgaria enters the Eurozone, Boyko Borissov said and added that this country is expected to enter the ERM II mechanism (Eurozone’s waiting room) in April this year.




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