Prime Minister Glavchev: Bulgaria on Track for Eurozone Entry by Year-End

Prime Minister Dimitar Glavchev expressed confidence that Bulgaria will meet the price stability criterion necessary for joining the Eurozone by the end of the year, allowing the country to request a new convergence report. Speaking ahead of the EU-Gulf Cooperation Council summit in Brussels, he noted, "You know that the last two reports from the Commission and the European Central Bank were in June. Once the fourth criterion—price stability—is fulfilled, we will request extraordinary convergence reports. We hope to meet this criterion by the end of the year. Currently, we meet three out of four criteria, with price stability being the only one pending."

When questioned about the possibility of receiving the second tranche of the recovery and sustainability plan, Glavchev explained that changes to the National Assembly's decisions are necessary before any government can make a demand for adjustments. "There are agreements with the European Commission, but we cannot violate existing decisions of the National Assembly. If the representatives of the people allow it, we can take concrete actions that I believe will yield positive results," he stated.