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BRUSSELS – The finance ministers of the eurozone discussed the implementation of the requirements for the introduction of the pan-European currency in Bulgaria. This was announced by the President of the Eurogroup Paschal Donahue at a press conference after the end of the meeting in Brussels.
He noted that according to the assessment of the EU institutions, the country meets all the requirements except for price stability. Bulgaria has made good progress in recent years and we encourage it to continue its reform efforts towards adopting the euro, he added. This will happen after achieving sustainable convergence with the eurozone, Donahue explained.
The Commissioner for Economic Affairs Paolo Gentiloni noted that the European Commission recently reported progress on most of the requirements for Bulgaria. According to him, steps are expected to improve the management of state-owned enterprises in the country.
In an interview with BTA at the end of June, the Governor of the Bulgarian National Bank Dimitar Radev said that Bulgaria’s accession to the eurozone in 2025 remains realistic.
Bulgaria does not meet only the criterion for price stability to become a member of the eurozone, pointed out the convergence reports presented in June by the European Central Bank (ECB) and the European Commission. (July 15)