site.btaEU Commissioner Maria Luís Albuquerque, Finance Minister Temenuzhka Petkova Issue Joint Statement

European Commissioner Maria Luís Albuquerque and Minister of Finance Temenuzhka Petkova held a constructive meeting in Sofia to discuss current developments in the financial sector, Bulgaria’s priorities, and the European Union’s broader efforts to strengthen competitiveness, investment, and citizens’ prosperity, said the EC and the Bulgarian Finance Ministry in a joint statement.

Discussions focused on the opportunities and challenges of further integrating Bulgaria’s financial system into the European framework, including capital markets development, consumer and investor protection, and access to finance for small and medium-sized enterprises. Both sides underlined the importance of deepening the Savings and Investments Union, an EU flagship initiative designed to mobilise private savings, boost long-term investment, and ensure that citizens and businesses across Europe benefit from a more efficient and resilient financial system.

The Commissioner and the Minister agreed that financial literacy and informed decision-making are essential to empower citizens, while strong and transparent institutions are key to attracting investment and fostering innovation. They also exchanged views on the role of private finance in supporting Europe’s green and digital transitions, and on the importance that further development of capital markets in the EU must follow an inclusive approach that takes into account the interests of all Member States and their citizens, regardless of the size and level of development of their capital markets.

The meeting confirmed the shared commitment of the Republic of Bulgaria and the European Commission to work together towards a stronger, more integrated financial system that serves citizens, supports sustainable growth, and reinforces Europe’s economic resilience.

Albuquerque said that she greatly appreciates the constructive exchange during her visit to Sofia. From banks and insurers to venture capitalists and innovators in the fintech sector, as well as trade unions and consumers of financial services, the message is clear: Bulgaria is committed to building a financial system that works for its citizens and businesses, she noted, adding that this strong commitment is essential to build a more open, inclusive, and sustainable European financial system.

Petkova said that a stable financial system and the further development of the capital market remain a priority for the Ministry of Finance. Local ecosystems are essential for financing start-ups, and local investors are an important factor for stability in the early years of small and medium-sized enterprises. Connecting capital markets in the EU will provide financing for the growth of European companies while offering citizens access to more opportunities to increase their prosperity.