If Bulgaria does not adopt the euro quickly it risks staying in the "Eurozone waiting room" for a long time, caretaker Minister of Finance Rositsa Velkova said in an interview for the BNR. In her words, July 1, 2024 is a possible date for the adoptiion of the single currency.
"If the 49th National Assembly puts the accession to the Eurozone on its priority list, it can adopt the necessary legislation, including amendments to the Law on the Bulgarian National Bank, the Commercial Code and the Insurance Code. Then we could submit a request for an extraordinary convergence report in July.
At the beginning of the 49th National Assembly, the caretaker government will submit a draft budget for 2023, said Minister Velkova. Estimates indicate that the budget will have a deficit of 6%. In her words, it is a matter of political decisions to lower the deficit to 3% of the GDP to meet the Maastricht criteria.
Minister Velkova stressed that there should be a broad information campaign before a possible referendum on the euro.
Housing loans in Bulgaria increased by 24.8% year-on-year, reaching BGN 22.3 billion (EUR 11.4 billion) by the end of June 2024, according to the BGNES news agency. Consumer loans also rose by 14% year-on-year compared to June 2023, reaching BGN..
Bulgaria’s real GDP growth is expected to stand at 2.1% in 2024, indicates the macroeconomic forecast of the Bulgarian National Bank (BNB) in June. Bulgaria’s real GDP growth is expected to stand at 2.1 per cent in 2024, driven by the positive..
The caretaker government has instructed Deputy PM and Minister of Finance Lyudmila Petkova to submit, by 11 September, a proposal for amending the REpowerEU chapters of the recovery and resilience plan. This is being done so as to make the..
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