Dimitar Radev

Finance Minister Asen Vasilev has issued a recommendation for Bulgarian companies to expedite their preparations for the transition to the euro next year as reported by BNR.

Bulgaria is gearing up to nominate Kristalina Georgieva for a second term as the head of the International Monetary Fund (IMF), according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB) and the governor of the IMF for Bulgaria.

Speaking at a briefing following a meeting with Croatian Central Bank Governor Boris Vujcic, Bulgarian National Bank (BNB) Governor Dimitar Radev highlighted the significant costs associated with delaying entry into the eurozone.

During his visit to Bulgaria, Croatian Central Bank Governor Boris Vujcic reassured that Croatia's transition to the euro did not result in a significant uptick in prices.

Banker and economist Levon Hampartsumyan addressed concerns about Bulgaria's adoption of the euro, emphasizing the need to overcome fears and embrace the impending change. According to Hampartsumyan, the shift to the euro as the primary measure of economic success will not only be seamless but also without financial burdens for the public.

Marking a significant milestone, the euro commemorates its 25th anniversary since its inception. Introduced initially in 11 countries, the single European currency has grown to encompass approximately 350 million users across 20 countries in the eurozone. Bulgaria eyes becoming the 21st member, intending to join the currency union early next year.

European Commissioner for Economy Paolo Gentiloni visited Bulgaria, emphasizing the European Commission's unwavering support for Bulgaria's Schengen accession and its aspirations to meet the criteria for joining the eurozone.

European Commissioner for Economy, Paolo Gentiloni, embarks on a crucial two-day visit to Bulgaria starting Thursday. The visit aims to foster discussions on the economic outlook for the EU and Bulgaria, preceding the upcoming year of 2024, as confirmed by the European Commission.

During a parliamentary budget committee meeting, Dimitar Radev, the Governor of the Bulgarian National Bank (BNB), advocated for a strategic fiscal approach, proposing a 10% buffer allocation within the budget for 2024. This buffer, if not utilized due to unforeseen risks, would be available for expenditure in the final quarter of the year.

"The Governing Council of the Bulgarian National Bank has united around the idea of reproducing the design of the current exchange coins, which will ensure continuity in the monetary signs used and will facilitate the recognition of the new currency by Bulgarian citizens, namely: the Madara Rider - on the small coins; St. John of Rila - on the 1 euro coin; and Paisius of Hilendar - on the 2