Bulgaria Targets Eurozone Entry by 2025: Key Leaders Rally for Economic Integration at Sofia Conference
The Chairman of the Association of the Honorary Consuls in Bulgaria, Mr. Borislav Boyanov, Managing Partner at “BOYANOV & Co.” opened the international conference ‘Bulgaria in the Eurozone, when?’ which took place in Sofia on May 15. He moderated the official part of the forum with the participation of key figures such as Mr. Dimitar Radev, Governor of the Bulgarian National Bank (BNB), and Petko Nikolov, Minister of Economy and Industry of the Republic of Bulgaria. During the event, it became clear that the BNB, the Association of Banks in Bulgaria, and Bulgarian businesses are unanimous that Bulgaria should join the Eurozone as soon as possible, since there is a technical readiness for January 1, 2025. Six former prime ministers, six former finance ministers from Bulgaria and other EU member states and more than 600 other participants joined the conference. The event received wide national media coverage.
‘Marginal topics displace the real agenda of the country. The scale of the loss as a result of this situation is measured not in millions, but in billions. Bulgaria must complete its European integration by joining the Eurozone as soon as possible,’ stated Dimitar Radev, Governor of the Bulgarian National Bank. According to him, the main reason for the delay in adopting the euro in Bulgaria is the political crisis. Mr.Petko Nikolov, Minister of Economy and Industry highlighted the increase in Bulgaria’s credit rating as one of the benefits of adopting the euro, as it will support foreign trade and have a positive impact on foreign investments. A number of protective mechanisms against price increases are also envisaged. He believes that Bulgaria’s accession to the Eurozone will allow it to participate in shaping the monetary policy of the EU.
The event was organized by the Association of Honorary Consuls in Bulgaria, the Bulgarian CFA Association, and the Association of Banks in Bulgaria.”