site.btaBulgarian National Bank, Economic and Social Council Sign Memorandum of Cooperation

The Bulgarian National Bank (BNB) and the Economic and Social Council (ESC) on Friday signed a Memorandum of Cooperation, the bank said on its website.

The document was signed at a ceremony by BNB Governor Dimitar Radev and ESC President Zornitsa Rusinova.

The signing of this memorandum on Europe Day - 9 May, is significant for its objectives, namely - two prestigious institutions in the country to develop their partnership in the process of Bulgaria's accession to the euro area, said BNB Governor Dimitar Radev.

We see the ESC as the broadest platform of employers, trade unions and consumer organizations in the country with which we cooperate for the successful introduction of the euro, he said.

Our shared understanding is that this is not just about monetary reform, but about a process with deep and long-term economic, social and political dimensions that will accelerate the modernization of the country and the improvement of people's well-being, Radev said.

This memorandum is extremely important for us. We are signing it with one of the main participants in the process for the adoption of the euro, BNB, with which we have proven over time that we can successfully cooperate, said ESC President Zornitsa Rusinova. She added that the Council will rely on the expertise of the BNB for many of the initiatives that will be organized within the framework of the communication activities on euro area accession.

I believe that this cooperation will benefit the citizens of the country and will give much more clarity on all the questions that are being asked, Rusinova said.

The signing ceremony was attended by BNB Deputy Governors Petar Chobanov and Radoslav Milenkov, ESC Vice Presidents Plamen Dimitrov and CITUB President and Bogomil Nikolov, Executive Director of the Bulgarian National Association Active Consumers, and Rumen Radev of the Bulgarian Industrial Capital Association.

After the ceremony, a meeting was held between the management of the ESC and the BNB. Future initiatives were discussed, similar to Friday's discussion on the occasion of Europe Day - 9 May about the effect of Bulgaria's entry into the eurozone on young people, with a focus on education, income and job prospects.