Bulgaria’s government coalition council holds talks on euro adoption plan

Bulgarian National Bank is to prepare a report within a month or two assessing the impact of the adoption of the euro, it emerged after a meeting of government coalition council experts on the night of May 14, Bulgarian National Radio reported.

A May 10 meeting of the ruling majority coalition council confirmed the intention for Bulgaria to accede to the euro zone on January 1 2024.

Bulgaria will ask the European Central Bank (ECB) and the European Commission (EC) to prepare a report on Bulgaria’s readiness to adopt the euro.

Economist and MP Georgi Ganev of Democratic Bulgaria said that the ECB and EC report should be ready about May 2023.

“The big question is whether in a year we will meet the criteria for adopting the common European currency,” he said.

The meeting also discussed the ruling majority’s package of measures to counter the effects of high inflation.

Details of this package are to be announced next week.

Before the start of the May 14 meeting, Democratic Bulgaria’s Ivailo Mirchev said that the package of anti-crisis measures would be worth about two billion euro.

There was consensus in the governing coalition on most of the proposals, Mirchev said.

(Photo: M van den Dobbelsteen/sxc.hu)

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