Bulgaria and the euro

Bulgarians working abroad remain a major investor in the Bulgarian economy. According to data from the balance of payments of the Bulgarian National Bank, since the beginning of the year they have sent nearly 400 million euro to their relatives.

,,For Bulgaria, the partnership with the European Anti-Fraud Office is of utmost importance'', Prime Minister Boyko Borissov noted during the meeting with the Director General of OLAF, Ville Itala, at the Council of Ministers, the press service of the Cabinet announced.

,,Bulgaria may join the Currency Mechanism up to 12 months'', Prime Minister Boyko Borissov wrote on Facebook, reported Econ.bg

Rating Agency Standard & Poor has confirmed Bulgaria's credit rating with a positive outlook, confirming Bulgaria's long-term and short-term credit rating in foreign and local currency 'BBB- / A-3'.

 Our countries have proven that they can be "at the helm of the European Union", Bulgaria's Prime Minister Boyko Borissov said during the Together for Europe EU enlargement 15th anniversary summit, the government press office said.

The Government is expected at its regular meeting to adopt a report on the implementation of the Action Plan for 2019 with the measures stemming from Bulgaria's membership of the European Union on 31 March 2019, the press service of the Cabinet announced.

On March 20, 2019, the Executive Council of the International Monetary Fund (IMF) closed the Article IV consultation with Bulgaria. This is the final stage of the assessment of the economic situation of the state, which the IMF makes each year for each Member State of the Fund. The consultation ends with assessment and country-specific recommendations.

Bulgaria's Premier Boyko Borissov forecasted that Bulgaria would enter ERM2, also known as the Eurozone's waiting room, in July this year, reported the Bulgarian National Radio. 

Huge investments are expected to be made in Bulgaria.

Bulgaria's push to join the euro zone is having a beneficial impact on the country, the International Monetary Fund said on Friday, reports Reuters. 

In order to join the ERM-2 mechanism, the two year "waiting room" for the euro zone this summer, Bulgaria has committed to improve financial sector supervision, anti-money laundering measures and management of state-owned companies.

Lower interest rates on loans and a stable banking system will be among the positive effects of joining the Eurozone, Bulgaria's Prime Minister Boyko Borissov said at the traditional annual meeting of the business and government on 29th of January. The forum is dedicated to Bulgaria's road to the Eurozone and the effects on the economy.

Bulgaria will need to wait at least until mid-2022 to join the euro, the EU commissioner in charge of the common currency said on Friday, according to Reuters. 

The country meets the nominal criteria to adopt the euro, with low inflation, healthy public finances and its lev currency already pegged to the euro, but is also the EU's poorest state and has problems at some of its banks.