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Despite delays: Bulgaria wants to introduce the euro in 2024

Bulgaria is now aiming to join the eurozone from July 1, 2024, six months later than originally planned, said Finance Minister Rossitsa Velkova. Inflation has already fallen back to accession levels.

Bulgaria has had to give up its original goal of joining the eurozone on January 1, 2024. Parliament had not passed the necessary laws in time. The country is currently in the midst of a government crisis again, with elections on April 2 for the fifth time in two years.

Instead, the second half of the year is now being targeted.

“If maximum efforts are made, Bulgaria could join the eurozone on July 1, 2024,” said Finance Minister Welkova, referring to bringing down inflation to the level required for joining the eurogroup.

“The talks we had with the European Commission showed that if the whole process goes smoothly, there will be no legislative and regulatory obstacles to Bulgaria’s entry into the euro zone in July,” Velkova said.

The caretaker government’s decision to belatedly join the eurozone has drawn criticism from the country’s second-largest party, We Continue Change.

“There is a resolution of the National Assembly that clearly states that the caretaker government must do everything possible for Bulgaria to join the eurozone on January 1, 2024. We think this is still possible. There is still time to take all the preparatory steps for it,” Andrei Gyurov of We Continue Change told Bulgarian National Radio.

Bulgaria is among the countries with the best indicators in Europe in terms of low public debt and budget deficit, Gyurov added.

“We managed to show that a comprehensive social program can be implemented in Bulgaria, that businesses and citizens can be supported, and at the same time that the budget deficit can be below 3 percent,” Gyurov commented.

Source : Euractiv