The EC refuses to compromise on Bulgaria's admission to the Eurozone

EC/ Photo archive

The European Commissioner for Financial Affairs, Paolo Gentiloni, expects Bulgaria to become the 21st member of the Eurozone "at some point" next year, "SEGA.bg.news" reported. Europe expects Bulgaria to meet all the criteria for accepting the euro and is not inclined to compromise. It became clear from Gentiloni's words that until the country has met the inflation criteria, it cannot count on an invitation to join the Eurozone.

"Bulgaria will certainly fulfill three of the criteria. The fourth, which is related to inflation, has not yet been achieved. But we are optimistic that by the end of the year Bulgaria will be able to achieve this criterion as well," said the European Commissioner for Financial Affairs.

Since the beginning of this year, NSI has reported a serious slowdown in the growth rate of consumer goods prices in the country, with annual inflation of only 2,4% recorded in April. However, the annual average inflation rate for 2024 is forecast to exceed the euro area entry criterion – no more than 1,5 percentage points above the inflation of the 3 best performing member states.

Therefore, expectations are for a negative report by the European Central Bank and the European Commission in June on the readiness of our country to replace the left with the euro from January 1, 2025. The hopes of euro supporters are to enter the eurozone from mid-2025.

Gentiloni denied that the European Commission or the ECB had so far rejected the conditions for eurozone membership, including for Croatia, which was admitted a year ago with fairly high inflation of over 10%.

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