Governor of the Bulgarian National Bank: Europe Needs Stability and Reform Amid Uncertainty

Europe is facing a complex and uncertain environment in which stability and reform should go hand in hand, said the Governor of the Bulgarian National Bank (BNB), Dimitar Radev, addressing the European Department of the International Monetary Fund (IMF) in Washington on October 21.

Radev noted that the macroeconomic environment in Europe is becoming increasingly demanding due to heightened geopolitical tensions, global competition, and growing needs related to defence and energy security.

“The war in Ukraine is only one element of a broader reconfiguration of the global economy,” he stressed, adding that Europe must preserve its ability to act collectively and remain competitive.

The BNB Governor described Bulgaria’s forthcoming accession to the euro area as a strategic decision that will strengthen the country’s economy and resilience.

“Joining the eurozone is not the end of the process but its beginning – the beginning of a deeper responsibility to maintain fiscal discipline and a consistent reform agenda,” Radev said.