A comprehensive government program is needed with policies and measures to support the transition to entering the eurozone with the relevant specifics in different industries. Things are incomparable in every respect from industry to industry, from sector to sector, which requires separate increased attention for each of the sectors, as well as competitiveness, especially in the “A“ fold, which we will enter from January 1, 2026. This was said by the Chairman of the Strategic Institute for National Policy and Ideas, Dr. Kaloyan Pargov, at the beginning of the Round Table “Bulgaria's Small and Medium-Sized Business in the Eurozone Conditions – challenges, support policies“, organized by SINPI and the Ministry of Economy and Industry.
The event was opened by the Minister of Economy and Industry Petar Dilov. The forum was attended by representatives of institutions, employer organizations and scientific circles - the Chairman of the Commission for Economic Policy and Innovation Petar Kanev, the Deputy Minister of Economy and Industry Nevena Lazarova, the Secretary General of the Bulgarian Chamber of Commerce and Industry Dr. Milena Angelova, Prof. Tsvetana Stoyanova – member of the Council of Investment and Trade Unions and Vice-Rector of the University of National and World Economy, Deputy Chairman of the Board of the Bulgarian Chamber of Commerce and Industry Todor Tabakov, member of the Board of the Bulgarian Chamber of Commerce and Industry Ivan Velkov, Deputy Rector of the University of National and World Economy Yanko Hristozov, Prof. Garabed Minasyan, Prof. Andrey Zahariev, Prof. Boyan Durankev and others.
According to Pargov, foreign investments are often talked about, but the important thing that is missed is one important negative trend - the increased export of capital from Bulgaria. “The question is whether entering the eurozone and whether the state in the person of the responsible institutions can stop this negative trend or at least slow it down, because this is worse than having reduced foreign investments“, the chairman of the SINPI pointed out.
“Small and medium-sized enterprises will enter as the main backbone of the economy. Entering the eurozone is not only about changing the currency. Entry into the eurozone is associated with economic, structural and regulatory adaptation of small and medium-sized enterprises. It includes, in addition to the physical introduction of the euro, joining the common monetary policy of the ECB, full participation in the banking union, compliance with the macroeconomic rules of the Eurozone, and meeting the high requirements for accountability, transparency and supervision. “, pointed out Dr. Daniela Vezieva - Acting Minister of Economy (2021) and an expert of the SINPI, who moderated the discussion. She raised the question of whether we are ready to follow the rules of the Eurozone from January 26.
In conclusion, Vezieva outlined several groups of challenges: difficulty in adapting micro-firms to European standards, price speculation and loss of trust, bankruptcies due to errors in contracts, tax payments, currency risks, and increasing regional economic inequalities.
According to her, the proposals are taking shape in several directions. One is financial stabilization and support as financial instruments for managing currency risk, for tax increases and incentives, for ensuring liquidity.
„The other measures are related to the information campaign, with the provision of free accounting and legal assistance, reducing the administrative burden, financial assistance by increasing access to loans, guarantee funds, transforming existing programs, such as the Recovery and Resilience Plan, OP „Competitiveness“, with targeted measures aimed at small and medium-sized enterprises, expanding the activities of the Bulgarian Bank for Development, the participation of municipalities in this process of transition to the eurozone and their opportunities for stimulating small and medium-sized enterprises“, summarized Daniela Vezieva at the end of the forum.