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BNB: Bulgaria's adoption of the euro in 2025 is realistic

published on 5/14/24 1:35 PM

Photo: BGNES

Bulgaria will not be able to meet all the criteria for joining the euro area by the time the convergence report is published in June, Bulgarian National Bank (BNB) governor Dimitar Radev said at a conference on euro adoption in Sofia.

"The main reason for the delay is the political crisis," Radev stated.

The BNB and the financial sector will be fully prepared by the end of the year, but this is not enough in technical and logistical terms, Radev said. "A number of mainly information accounting systems, under the control of the executive and municipalities, need to be made ready to work in the eurozone environment," he explained.

Mr Radev called for the adoption as soon as possible of the law on the introduction of the euro, which would give clear signals and guarantees to businesses and households about what was to come.

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Radio Bulgaria News bnb dimitar radev euro problems prognosis