20.05.2025 18:31
Neighboring Bulgaria is preparing to change its currency. The Governor of the Bulgarian National Bank, Dimitar Radev, stated that the country is ready to transition from its national currency, the lev, to the Euro starting from January 1, 2026.
Bulgaria is preparing to change its currency starting from the new year.
THEY GAVE A DATE FOR THE TRANSITION TO THE EURO
The Governor of the Bulgarian National Bank (BNB), Dimitar Radev, stated in a press conference in the city of Pleven, "Our country has fulfilled all the necessary prerequisites to switch to the Euro, and our goal is to transition to the Euro starting from January 1st."
APPROVAL IS AWAITED
Indicating that he was speaking on behalf of the BNB, Radev said, "While we state that we are fully ready, our own assessment cannot be sufficient. The European Central Bank and the European Commission will have the final say on this matter. After the approval expected from these two institutions, the participation procedure will be completed."
"BULGARIA HAS ALSO DONE ITS PART REGARDING INFLATION"
Radev reminded that Bulgaria has done its part regarding inflation, one of the most important criteria for the transition to the Euro, stating that the annual average inflation rate remained at 2.7% until April.
"LIVING STANDARDS HAVE INCREASED IN COUNTRIES THAT JOINED THE EURO"
Radev also expressed that citizens' deposits would not decrease due to the transition to the Euro, saying, "In countries that joined the Euro years ago, citizens' incomes increased by 10-15%, and living standards rose."
THE PRESIDENT HAD REQUESTED A REFERENDUM
The President of Bulgaria, Rumen Radev, who had consistently opposed the proposal to submit the definitive decision regarding the country's transition from the national currency lev to the Euro to a referendum, suddenly changed his mind and suggested that the final word be given to the public. The Speaker of Parliament, Nataliya Kiselova, stated that this request was against the law and rejected its inclusion in the general session.