site.btaBulgaria's Eurozone Membership Will Strengthen Economy, Provide Security to Businesses - Economy Minister
The euro is a symbol of stability, trust and common direction, and joining the eurozone will strengthen the national economy and provide security for businesses and citizens, Economy and Industry Minister Peter Dilov said Thursday at an information meeting in Blagoevgrad. The event was part of the National Information Campaign for the Introduction of the Euro in Bulgaria.
The introduction of the single European currency is also an act of trust in Bulgaria, he noted. Membership in the eurozone will facilitate travel, trade and investment, he pointed out, adding that benefits will include faster income growth, a more competitive and attractive national economy and the opening of more opportunities and cooperation for business.
Dilov also highlighted the fact that Bulgaria is already feeling the benefits of the upcoming membership in the eurozone with an increase in its credit rating, returning for the first time to the levels of 2007. He noted that small and medium-sized enterprises will be among the biggest beneficiaries of the introduction of the euro, with the elimination of currency conversion costs, the acceleration and reduction of trade opportunities in European markets.
Protecting the interests of citizens, in order to preserve the purchasing power of especially vulnerable groups, is the responsibility of institutions, Dilov stressed, noting that actions in this direction include the requirement for dual price indication, strict control over price conversion and constant monitoring of the prices of selected products. He described as myths the fears about the course of introducing the euro and the topic that Bulgaria will repay the debts of the eurozone countries, which function is performed by the established European Stability Mechanism, as well as the topic of the loss of sovereignty.
/MR/
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