Bulgaria received strong support for joining the euro area at Friday’s meeting of Finance Minister Assen Vassilev with Eurogroup President Paschal Donohoe, European Central Bank (ECB) President Christine Lagarde, European Commission Vice-President Valdis Dombrovskis, and European Commissioner for Economy Paolo Gentiloni during the informal Council of European Union (EU) finance ministers in Ghent, Belgium, the press centre of the Ministry of Finance said. The meeting was also attended by the Governor of the Bulgarian National Bank (BNB) Dimitar Radev.
The talks focused on Bulgaria’s progress in preparing for euro area accession. Bulgaria has fulfilled three of the four criteria, with only the one on inflation remaining. ECB and European Commission forecasts show this country will meet the criterion in 2024, which will allow it to join the euro area in 2025, the finance ministry also said.
A meeting on the future of the euro area was organised at the European Parliament in Brussels by MEP Emil Radev (GERB/EPP). Bulgaria is working hard to meet the requirements for the introduction of the single European currency and is expected to join the Eurozone soon, according to European Commissioner for Financial Stability, Financial Services and the Capital Markets Union Mairead McGuinness. At the meeting, Paschal Donohoe said that Bulgaria has carried out major reforms and has the support on its way to the introduction of the single currency. In his words, it is only a matter of time.
/MT/
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