Finance Minister Vassilev Confirms Bulgaria's 2025 Eurozone Entry Target

In a significant diplomatic engagement at the International Monetary Fund (IMF) headquarters in Washington, Bulgaria's Finance Minister Asen Vassilev engaged in a comprehensive discussion with Managing Director Kristalina Georgieva, underscoring the nation's steadfast commitment to joining the Eurozone by January 1, 2025. The dialogue, marked by a thorough examination of Bulgaria's preparedness for Eurozone integration, delved into multifaceted aspects ranging from the technical readiness of critical sectors to the strategic implementation of a public information campaign aimed at garnering societal support for the impending transition.

Minister Vassilev articulated Bulgaria's robust fiscal standing, highlighting the nation's praiseworthy debt-to-GDP ratio of 22%, positioning it favorably among its European counterparts. Additionally, with Bulgaria's budget deficit for 2023 recorded at a commendable 2.2% of GDP and a projected deficit of up to 3% for 2024, the country demonstrates a disciplined adherence to the Maastricht criteria, a fundamental prerequisite for Eurozone accession. However, Vassilev acknowledged the prevailing challenge concerning Bulgaria's divergence from the inflation reference value, signaling the imperative for concerted efforts to address this discrepancy.