Rising prices are hampering the introduction of the euro. This was commented by the Minister of Finance Yesin Vassilev, Bulgaria ON AIR reported.
Today, the Minister said that January 1, 2024 is a possible date, although Bulgaria still does not meet the requirements for joining the eurozone.
“Monthly inflation, which is related to energy sources, has already been contained.
Prices are not rising there. “Inflation in food is almost under control and what we are beginning to see are the side effects that go into clothing, footwear, transport,” Vassilev said.
Of these four criteria, our country meets only the last two: exchange rate stability and long-term interest rates. Price stability and sustainable public finances can be a problem.
Inflation across Europe is four times higher than what economists want. But this may be good for the adoption of the euro in Bulgaria.
“I don’t think we have a problem with the date 01.01.2024,” the finance minister said.
More than 100 laws that need to be changed are also a problem.
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