Minister of Finance: Bulgaria will ask for convergence report on its readiness for the Eurozone as soon as possible

Bulgaria will submit a request for a convergence report for the Eurozone in the shortest possible time, but the country must meet the relevant criteria, as the risk of receiving a negative response is high before meeting these criteria, Minister of Finance, Temenuzhka Petkova, said during question time in Parlaiment on January 31.

"First, we need to be clear about the 2025 budget, then the fiscal-structural plan of Bulgaria needs to be approved, as it guarantees the sustainability we need to demonstrate, and only then will we move in this direction. However, our European partners support Bulgaria and welcome the fact that we have a regular government. Expectations towards us are high, and I hope that with joint efforts, we will manage this situation," said Petkova.

According to her, in the event of a request for an extraordinary convergence report from the Bulgarian authorities, the process will continue so that the European Commission can review all the criteria for the country’s accession to the Eurozone, not just inflation.

Petkova reminded that at the beginning of last week, she held a meeting in Brussels with the Presidents of the Eurogroup and the European Central Bank, Paschal Donohoe and Christine Lagarde, as well as with the European Commissioner for Economy and Productivity; Execution and Simplification, Valdis Dombrovskis. She noted that the European institutions welcomed the country’s progress in preparing for Eurozone membership, with consensus around the thesis that Bulgaria can request the preparation of a convergence report.

Source: BTA